Affordable Money Back Plans In India
Table of Contents
Money Back Plans are different from other policies as they come with multiple benefits. You do not have to wait for the maturity period to arrive in order to claim the Benefits. Money Back Plans give you an option of the secondary income source in the form of Survival Benefits. So, whenever you are in need of urgent funds the Money Back Plan is there to help you out.
Why Should You Invest Your Money in a Money Back Plan?
The Money Back Plans are affordable and they come with multiple benefits. From a variety of Additional Riders that can be added to increase and enhance the cover to numerous benefits which are paid at multiple periods.
- Survival Benefit
These are the Cash Backs because of which these plans are mostly known for. These Monetary Values are a percentage of the Sum Assured which are paid at different intervals which are fixed during the tenure of the policy.
- Death Benefit
In case of the sudden demise of the insured, the insurer pays the Death Benefit to the nominee. This amount includes the Sum Assured and all the Accrued Bonuses. The Survival Benefits which are paid till the death of the insured are deducted from the sum assured and then the remaining value is paid out.
- Maturity Benefit
Just like any other Traditional Endowment Plan the Maturity Benefit is paid once the policy term is over. This amount is the remaining value after the deduction of the Survival Benefits but includes the Accrued Bonuses and any Additional Bonus that was announced by the insurer during the initiation of the Policy.
In this Article, We will discuss the best and most affordable Money Back Plans
List of Affordable Money Back Plans
We have prepared a list of the best and most affordable Money Back Plans which are available in India.
BSLI Vision Money Back Plus Plan |
Policy Tenure of 20, 24 and 25 Years |
Minimum Entry Age- 13 Years Maximum Entry Age- 45 Years |
Minimum Sum Assured of Rs. 1,00,000 |
Bajaj Allianz Cash Assure |
Policy Tenure of 16,20, 24 and 28 Years. |
Minimum Entry Age - 0 Years Maximum Entry Age- 54 Years |
Minimum Sum Assured of Rs. 1,00,000 |
HDFC Life Super Income Plan |
Policy Tenure of 16-27 Years |
Minimum Entry Age- 30 for 18 to 27 Years of Policy Tenure and 2 Years for 16 Years of Policy Tenure Maximum Entry Age- 48 Years for a Policy Term of 27 Years. 51 Years for a Policy Term of 24 Years. 53 Years for a Policy Term of 22 Years. |
Minimum Sum Assured of Rs. 1,28,377. |
ICICI Pru Cash Advantage |
Policy Tenure of 15, 17 or 20 Years |
Minimum Entry Age - 0 Years Maximum Entry Age- 60 Years. |
Minimum Sum Assured of 1,00,000 |
IndiaFirst Cash Back Plan |
Policy Tenure of 9, 12 and 15 Years. |
Minimum Entry Age- 15 years Maximum Entry Age- 55 years |
Minimum Sum Assured- Rs. 50,000. |
Reliance Super Money Back Plan |
Policy Tenure of 10, 20,30,40 and 50 Years. |
Minimum Entry Age- 18 Years Maximum Entry Age- 55 Years |
Minimum Sum Assured- Rs. 1,00,000. |
SBI Life Smart Money Back Gold |
Policy tenure of 12, 15, 20, 25 Years. |
Minimum Entry Age- 15 Years for Policy Terms of 12 and 15 Years and 14 Years for a Policy Tenure of 20 and 25 Years. Maximum Entry Age- 55 Years for a Policy Tenure of 12 and 15 Years, 50 Years for a Policy Tenure of 20 Years and 45 Years for a Policy Tenure of 25 Years. |
Minimum Sum Assured of Rs. 75,000. |
TATA AIA Life Insurance Money Back Plus |
Policy Tenure of 16, 20 and 24 Years |
Minimum Entry Age- 2 Years Maximum Entry Age- 51 Years |
Minimum Sum Assured of Rs. 2,00,000. |
LIC Money Back Plus Policy (20 Years) |
Policy Tenure of 20 Years |
Minimum Entry Age- 13 Years Maximum Entry Age- 50 Years |
Minimum Sum Assured of Rs. 1,00,000. |
PNB Metlife Money Back Plan |
Policy Tenure of 10 Years |
Minimum Entry Age- 13 Years Maximum Entry Age- 55 Years |
Minimum Sum Assured of Rs. 2,50,000. |
Conclusion
You can choose between all these Money Back Plans as they are affordable and are not heavy on the pocket. With these affordable plans you can secure your family's future and also meet the financial needs which may arise suddenly.
Also read
Can I Get An Affordable Price While Buying A Money Back Insurance Plan?
Steps To Check The Details Of Your Existing Money Back Insurance Plans
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.