A cash-back policy is a system that returns money at regular intervals. During the duration of the contract, this cashback is paid and is a proportion of the Amount Assured. Pay-outs for money-back are considered survival benefits. Such incentives will be accrued during the lifetime of the contract and the remaining Amount Assured will be compensated along with accumulated bonuses upon maturity. If the insured dies during the lifetime of the contract, however, the full Amount Assured will be paid regardless of the recovery benefits already accrued. This is the unique feature of the program. Some of Money Back Policy’s key features are:

• The Survival Profit is calculated as a percentage of the guaranteed total.
• During the lifetime of the program, longevity benefits are paid at regular intervals.
• When the benefits are paid, there is a set period.
• Every program has a different structure of payouts. Likewise, there is also no fixed percentage of Amount Assured charged as Survival Benefits and differs between different plans.
• Money-back plans usually come as plans in which bonuses are added to participate. The reward will then be paid on maturity or death.
• There are also many money-back deals for drivers. Rider incentives are only paid as a lump sum when the rider’s risk happens during the lifetime of the program.

To know more about money back policy, you can visit our website https://www.jayantharde.com or contact our representative at +91 712 2282029 or meet us at 51, Gurukripa, Old Sneha Nagar, Wardha Road, Nagpur – 440015.

Why Do You Need to Buy a Money Back Policy?

Low risk exposure:

Because of the capital market instability, financial instruments such as mutual funds and shares carry a high degree of risk. But with money back insurance policies, the same is not the case. Since these plans are products of insurance cum return, they do not pose a high risk.

Regular source of income:

Money return plans, as the name suggests, include regular payouts over the policy period. That payment is a proportion of the guaranteed sum, known as ‘ survival benefits. ‘ The amount is fixed and is paid up to the plan’s maturity at regular intervals.

Insurance coverage:

In the event of an unfortunate event like death, your loved ones will need financial support, especially if you’re the family’s breadwinner. Money back insurance plans provide insurance coverage, providing your family members with financial security to fulfill their obligations after your death. Your candidate will receive the full guaranteed sum regardless of the amount received by survival benefits.

Assured return on investment:

Money back policies provide a protect return on the amount invested. So you don’t have to worry about losing out on your savings. Rather, through such investment opportunities, you can grow your wealth as well as secure your future.

Provides Survival benefits:

A money back policy offers longevity benefits such as a percentage of guaranteed amounts (at agreed intervals) and maturity gain along with reward earned.

Liquidity:

This is the strength of this program because during the policy period it pays a certain portion of the guaranteed sum at regular intervals. This, in effect, gives you the stability you need and you can manage your finances better during your lifetime to meet different goals.

Provides risk-free returns:

If risk-taking isn’t your tea cup, then the Money back program is an ideal choice for you. Since there is no risk involved, the best money back plan can be selected.

Death Benefits:

The policy nominee receives the insured person’s death benefit. That profit covers the money-back insurance guaranteed amount and the policy bonus accrued. But this does not include the survival benefit, because only when they are alive are they offered to the insured. For example: Mr. A dies after taking the policy in the 17th year. In that scenario, since it was taken, the candidate would receive the guaranteed amount and reward that would have been accumulated over the past 17 years.

To know more about money back policy, you can visit our website https://www.jayantharde.com or contact our representative at +91 712 2282029 or meet us at 51, Gurukripa, Old Sneha Nagar, Wardha Road, Nagpur – 440015.

Source: https://hardejayant.blogspot.com/2020/01/why-choose-moneyback-plan-in-2020.html