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Money back policies are insurance plans where the survival benefits are payable only at the end of the term period ,plus the added benefit of money back policies is that they provide for periodic payments of partial survival benefits during the term of the policy so long as the policy holder is alive.


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Rs. 46,000*

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For people who don't want to take risk & want their money back with returns after 5/7/10 years.

5/7/10 years

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About Moneyback Insurance Plans

Life insurance is no longer a simple term insurance plan which promises you a lump sum benefit on death during the plan tenure. The concept of life insurance has undergone many revolutions in the context of the various plans which life insurance companies have started offering. About half a century back when the Life Insurance Corporation of India, LICI, established the Indian Insurance Market, a handful of insurance products were sold, the primary being a term insurance plan. Today, with more than 28 insurance companies vying for the insurance market share, the products on offer have also be revamped and developed to provide amazing benefits and features. Thus, when you look out for a life insurance plan, you would get plans with multiple features which promise the policyholder the best benefits in their respective classes.

A money-back insurance plan is also another type of insurance plan which promises easy liquidity for the policyholder during the plan tenure. This plan, thus, eliminates the rigidity of the money being locked-up in the insurance plan for longer tenures. Here is the brief description of a money-back insurance plan –

What is a money-back insurance plan?

An additional and important feature of money back policies is that in the event of death at any time during the term of the policy, the death claim comprises full sum assured without deducting any of the survival benefit amounts.The insurance premium of Money Back Policies are higher than Term Insurance Policy because in Term Insurance there is no survival benefits after the expiry of the insurance period. Money Back Insurance Policies are good for people who want to Insure their life and also want to some return from their investment's at a later date. The return from investments in Money Back Policies would range between 5% to 8% anually depending on the interest rate movements.

How to choose the best money-back insurance plan?

Choosing the best money-back insurance plan is a relative subject. Every individual’s needs are different and so different plans seem the best to different individuals as per their requirements. However, there are certain features which are universally judged when comparing the different money-back insurance plans. Comparing is the only tool which helps you in choosing the best money-back insurance plan. So, whenever you think of buying a money-back insurance plan, compare between the different plans before settling on one. How would you do that? Here are the points which would help you in comparing between the different money-back insurance plans.

• The plan tenure – money-back plans have a longer tenure (as stated before). However, some plans provide a tenure which is not very long. When deciding on the best money-back insurance plan, you should first look at the tenure the money back policy has to offer. Some plans might have a fixed tenure while others might have a tenure range which would enable you to choose the tenure as per your needs. So, match the plan’s available tenure to your financial goals before you settle on buying the insurance plan.

• The periodicity of the money-back benefits – money-back plans pay the survival benefits or money-back benefits at specified intervals. Comparing these intervals is important to ascertain when the money-backs would fall due. Some plans give the money-back benefits towards plan maturity while some divide the benefits equally over the plan tenure. You should consider when you would be requiring the money-back benefits for meeting your financial obligations and whether the plan provides the money-back benefits at such periods when you require them the most. Only then should the money back policy be bought otherwise the whole objective of a money-back insurance policy would fail.

• Bonus – almost all money-back plans are issued as participating or with-profits plans which mean that they are entitled to earn bonuses. When it comes to bonuses, you must compare whether the plan promises simple reversionary bonuses or compound reversionary bonuses. Compound bonuses are better as they earn bonus on the accrued bonuses too. Moreover, some insurance plans add bonus after the first three or five policy years while others add bonus from the first year itself. So, when comparing, this point should also be noted.

• Extra additions – apart from bonus declarations, money-back insurance plans might also have extra features like loyalty additions or guaranteed additions. These additions accrue beside the bonus additions which are added. These additions also enhance the benefit which is paid by the insurance company and when you are looking at different plans of insurance, these additions, if present, should be your preferred choice.

• Plan discounts – traditional insurance plans provide discounts in premiums for various reasons. There are discounts if you choose a substantial level of Sum Assured under the plan, discounts for paying premiums in the annual or the half-yearly mode, discounts for individuals who do not smoke, preferential rates of premiums for female lives insured, etc. All these discounts help in bringing down the premium which is payable for the money back insurance policy. So, compare the available discounts which the money back insurance plans have and choose the one with the best discount features.

• Inbuilt Benefits – riders increase the protection offered by an insurance plan. However, opting for additional riders also drive up the rates of premiums. Some insurance plans have an inbuilt rider which automatically increase the coverage level. If a money-back insurance plan, too, has an inbuilt rider, it would be highly beneficial for you and should be given preference.

These are more or less all the points which should be kept in mind when you are out comparing the available options in money-back insurance plans. When you know what the correct points of comparison are, comparing and then choosing the best plan becomes easy and simple. These points are your ready reckoner for comparing between the money back insurance plans.

How to compare money-back plans?

When you know that comparing insurance plans is so beneficial, the next logical thought which comes to your mind is how you can make the comparison. There are two ways of comparing the different money-back insurance plans and each way is further sub-divided into two other ways. So, understanding these ways would help you decide which is the better and easier way to compare money-back plans and choose the best among the rest.

The offline way of money back plan insurance comparison

The more traditional and conventional way of comparing between the different money-back insurance plans is the offline way. To compare money back plans through an offline channel, you can resort to these two activities:

• Arrange meeting with agents of different insurers – you would have to meet agents of all insurance companies which are offering a money-back insurance plan. This would take time and you might not be able to study all the available plans in the market.

• Visit the insurance company’s premises – you can also take matters into your hands and visit the branches of insurance companies to find out about their money-back insurance plans on offer. Needless to say, this method would also entail a lot of hassles and inconveniences on your part.

The online way of money back plan insurance comparison

Offline methods are losing their favorability because of the inconveniences and hardships they involve. Meeting with different agents or visiting the company’s offices to find out about the money back plans is a painful task and everyone tends to avoid it. But then what is the solution? It is simple actually. The solution is the online mode. Internet has made tremendous progress and with everything available online, you can easily escape the trouble of the offline mode. Insurance plans can also be compared online easily. There are two different ways to do so:

• Through web aggregators – web aggregators enlist the various money-back insurance plans and quote their premium rates. Such plans, which are enlisted by the aggregators, are direct insurance plans which can be bought online. You can compare money-back plans online and also buy them directly from the same website.

• Through online brokers – brokers represent different insurance companies and, as per the regulations, work in the interest of customers. by offering their services online, they also become easily reachable. Online brokers are a better bet than web aggregators because brokers are customer-oriented and advise on the best product suitable to their customer’s needs. They also have the required expertise in dealing with claim settlements and advising the customers on the technicalities of an insurance policy. Thus, comparing money-back plans through online brokers is the best bet.

We, as online brokers help you in comparing the various available money-back plans with ease. You can easily visit our website and arrange for a plan comparison where you would be contacted by our executives who would help you in comparing the plans and also generate money back plan quotes for all money-back insurance plans which you are comparing.

Insurance can be considered to be one of the booming service sectors in recent times. There has been tremendous rise in the number of insurance players both public as well as private in the market. So also the number of people who are opting for the various insurance policies is on the rise. The insurance companies have come to realise that each and every individual tends to have a different requirement altogether. Hence, in order to fit the bill of as many individuals as possible insurance companies have come up with a wide array of policies. One of these policies is the Money back policy.

Let us first understand what a money back policy is. In a layman’s language, money back policy happens to be a type of life insurance policy, which is known to not just offer coverage against risks, but also tends to provide returns to individuals at particular time intervals. In simple words, you as a policyholder of the Money back policy will get the opportunity of enjoying a fixed percentage of payout at particular periods coupled with the maturity gains. Hence, we can easily come to the conclusion that Money back policies play an essential role in helping you achieve both your short term as well as long term financial and security goals.

The Money back policy particularly stands out for its certain peculiar features and benefits. First and foremost is the unique design of this policy that we just stated above. Moreover, under this policy the policyholder gets access to sufficient lump sum amount at particular time periods, while on the other hand in case of the death of the life assured the complete sum of money that is insured goes to the nominee irrespective of the previous survival gains.

An additional and important feature of money back policies is that in the event of death at any time during the term of the policy, the death claim comprises full sum assured without deducting any of the survival benefit amounts.The insurance premium of Money Back Policies are higher than Term Insurance Policy because in Term Insurance there is no survival benefits after the expiry of the insurance period. Money Back Insurance Policies are good for people who want to Insure their life and also want to some return from their investment's at a later date. The return from investments in Money Back Policies would range between 5% to 8% anually depending on the interest rate movements.

Apart from this, another outstanding characteristic of this particular policy is the bonus that is given to the policyholder. In order to be eligible to enjoy the survival gains it is crucial for you to make all the premium payments regularly and on time. Like in case of other policies even in this policy one is required to stop paying the premium either on one’s death or the expiry of the policy, whichever event takes place earlier.

One important benefit of the Money back policy is that it takes care of the security needs of the nominee or the family of the policyholder in case of his or her death. Apart from this, since the Money back policy tends to provide liquid cash to you at different occasions it eventually assists you in meeting your financial requirements. Similarly, if you opt for the Money back policy then, you can seek for tax deduction under Section 80C.

The only glitch with the Money back policy is its lack of flexibility. If you have opted for the Money back policy with x amount as the insurance cover then in that case you are not allowed to alter the same in due course. Thus we can conclude that if anyone you is looking for a differential policy that can do much more for you apart from just providing coverage against risks and uncertainties then, it is time for you to go and enroll yourself for the Money back policy.

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