Money Back Life Insurance Policy
If you have to buy an insurance policy and have cash requirements for your recent future, you must take a money back insurance policy. Survival benefits at regular interval of time make this money back insurance policy very popular among the policyholders. Insurance companies are further gold plating it with various riders to attract a larger population. Let’s see what this policy has in store for you.
No worries for future plan
People who buy insurance are the bread earner of the family and require funds to meet their and their family’s requirements. Having the sum assured payable at regular interval, this insurance policy puts a policyholder at ease. All you have to do is to match the payments with your cash requirement. These payments are not risky and premiums do earn interest.
Recommended Read : Why Money Back Policy is Popular among Life Insurances?
Reduce your tax liability
The regular payments of the sum assured are tax exempted. So if your investments are getting reduced because of the taxes you pay invest in this policy, get exempted from the premium payments and get the benefits in short term, don’t pay tax on them too. However, be cautious as if payment is more than 20% of the sum assured one looses the tax exemption.
If you think you’re not going to die, and which you must think, you will just see an influx of cash throughout the term. And even in the case of claim, the amount paid will the full sum assured irrespective of the payments already made as the survival benefits. Thus this policy rewards the death and survival alike. This policy is worth every money spent.
And the benefits
This insurance policy contains the additional facilities of traditional insurance products which include bonus participation and riders.
So, this insurance policy is a one stop solution to many financial problems and is good to invest in.
Recommended Read :
- How to select a Life Insurance Policy?
- Life Insurance for Women
- Types of Life Insurance Policy
- Why Everyone Should Take Life Insurance?
- Life Insurance without Limit of Age?
- Life Insurance for Senior Citizen
- Endowment – Life Insurance and Savings
- Is Life Insurance a Part of Investment
- What is Term Insurance Policy?
- What is Accelearated Death Benefit Adb?