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What is money back plan?

Money back plans are a special type of endowment plans and are also called as anticipated endowment assurance plans. Under money back plans, survival benefits are spread over the term of the policy i.e., certain percentage of sum assured is paid at regular intervals. Apart from the above death benefit continues like an endowment plan i.e., full sum assured shall be payable on death within the term irrespective of earlier survival benfits.

LIFE INSURANCE - FAQ :

What is a term assurance?
What is whole life plan?
What is an endowment assurance plan?
What is money back plan?
What is an assignment?
What is a nomination?
Can I take a loan on my policy ?
How can I revive a policy?
What is the procedure in case of a lost policy?
What are the Tax benefits available?
What is surrender value?
How much life insurance should an individual own?
When does a policy acquire paid up value?
What is meant by "mortgage redemption policy"?
What is the benefit of opting riders/add ons?
What is permanent total disablement?
What is meant by a 'with profit plan'?
At what intervals are actuarial valuations conducted?
What is the system of bonus calculation?
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