Moneyback plans are designed for those who want a regular stream of income in addition to insurance benefits. It typically has four components:

  • 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

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