How to Check Details of Your Money Back Insurance Policy?

In a money-back plan, the life assured gets paid a percentage of the sum assured at regular intervals when the policy is in full force, instead of receiving a lump-sum payment in the end. It is simply put, an endowment plan with the benefit of liquidity.

This policy is suitable for those who have a risk appetite and wish to save and grow through an insurance plan and also have the facility to maintain liquidity throughout. In the event of the death of the life assured,  the nominee gets to receive the entire sum assured.

The insurer offers the option of keeping track of the insurance statement online and information related to the policy, with the goal of keeping a policyholder informed about the payments made by him/her and other occurrences. There are several ways to check the status of your policy online. To check the status of your money back plan online, follow the article.

How To Check The Status of Your Money Back Policy?

To check your policy status from time to time, you can follow the following steps -

Step 1 - You must visit the online website or the Portal of the insurance company you invested in. The screen will show you options related to the various kinds of policies they offer to a customer. Choose the option relevant to you.

Step 2 - You will need to enter the login credentials namely, your User Name and Password that you determine while purchasing the policy. This will redirect you to your account to carry out the process further.

Step 3 - Once you are logged in to your account of the insurance company of your investment, you will see various options related to the account or your policy. Now click on the tab that means 'Policy Status' in the options listed on the screen for you.

Step 4 - You will see all the policies that you have invested in that are enrolled in your account. Choose the option you would like to track the details of. If you have more than one policy and it is not listed in the list, many insurance companies provide options to change the error and add the policy. For example, you are provided with an option to add your LIC of India policies in the e-Service portal of LIC. This option allows you to add or change the policy information.

Step 5 - Now for the last step, you can easily track the details of your policy by opting for the policy number in the list provided on the screen. The policy details such as policy name, policy term, table number, sum assured, etc. will be available for you to track.

Also read - Who Should Purchase A Money Back Plan?

Conclusion

You can easily track all your money back policy details simply than expected by following just a few simple steps. These steps include opening the insurer’s online website or portal and keep choosing the options that are suitable for you.

You may also like to read - How does a money-back plan work and why should I purchase it?

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.