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What is Money Back policies?

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Anonymous

13y ago
Updated: 8/17/2019

In money back policies the some part of money is refunded to life insured. The period is generally is of 5 years and at the time of maturity; the money which is paid deducted from sum assured amount.

A Money back plan is an endowment plan which combines both insurance and investment. The main objective of a money back plan is to provide fixed sum of money at regular intervals. This amount depends upon the sum assured of the individual. On maturity, the insured receives remaining portion of the sum assured and loyalty additions.

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Wiki User

13y ago

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