Money Back

Money Back Plans -
Enjoy Insurance Benefits and get your money back.


Suitability : Businessmen & Professionals as money available at regular intervals.

Other Details : [a] A portion of S.A. viz., Survival Benifit, is paid as a perentage once in every 5 years.

[b] Life risk cover for the entire sum assured even after payment of survival benefit.

[c] At the time of first Survival Benefit the Life Assured should have attained majority.

Maturity Benefit : Bonus is given for the full sum assured amount.

Death Benefit : On death, before the policy term ends, full S.A. + Bonus is paid to nominee. The Survival Benefit already paid, if any, is not deducted in case of death claim. Following re-investment table givbes an idea of the total amount available at the end of the term, if the survival benefits are re-invested at 9% interest compounded annually in Banks/Company Deposits/Mutual Funds/RBI Bonds etc..

Example of Reinvestment Table for Plan 75-20, for 1 Lakh S.A.

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Survival Benefit      5 years     10 years     15 years       20 years   

                        1           20,000       30,772         47, 347            72,850

                         2           ---               20,000         30,772           47,347

                         3           ---                 ----              20,000           30,772

    Maturity Bonus

    @ Rs.39

     per 1000 S.A.         -----               ----                 ------             78,000

              FAB @ 

        Rs. 75 per 

           1000 S.A.          -----              ------                ------               7,500

                 _______________________________________________________________

         Total                20,000          50,772              98,119         2,76,469

         

Product summary : These are Money Back type Assurance plans that provide financial protection against death throughout the term of plan along with the periodic payments on survival at specified durations during the term.
Premiums : Premiums are payable yearly, half-yearly, quarterly, monthly or through salary deductions as opted by you throughout the term of the policy, or till the earlier death.
Bonuses : This is a with-profit plan and participate in the profits of the Corporation’s life insurance business. It gets a share of the profits in the form of bonuses. Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year. Once declared, they form part of the guaranteed benefits of the plan. Final (Additional) Bonus may also be payable provided policy has run for certain minimum period.