Moneyback plans are designed for those who want a regular stream of income in addition to insurance benefits.
– Death Benefit: The sum assured is paid to the nominee upon death of the policyholder during the policy term
– Maturity benefit: A lumpsum is paid to the policyholder upon survival at the end of the policy term
– Survival Benefit: A lumpsum is paid to the policyholder at certain intervals during the policy term
– Bonus: This is the extra amount paid to the policyholder in addition to all the above benefits, and depends on company performance
That’s where gold insurance comes in. It protects your gold against theft as well as damage caused by fire or water damage.