Kotak e-Term Plan
Kotak e-Term Plan provides a high level of protection to your loved ones in your absence.
Kotak Guaranteed Savings Plan
Kotak Guaranteed Savings Plan is a savings and protection plan that helps you achieve long-term financial goals and provides an insurance cover against any eventuality.
Kotak e-Invest plan is a complete Unit-Linked Insurance Plan that can be customized as per your goals and needs.
Kotak Health Shield
Kotak Health Shield Plan helps secure your finances in sudden medical expenses such as Cardiac, Liver, Neuro, and Cancer (all early and significant illness stages/conditions of cancer), along with offering protection for personal accidents - in case of accidental death or disability.
Kotak Lifetime Income Plan
Kotak Lifetime Income Plan gives you the security of your income continuing throughout your life and in your absence throughout your spouse's lifetime!
Keywords: money-back policies, money back plan, best money-back policy, money-back insurance policy,
Money-back policies are one of the popular life insurance policies in India as they offer a certain lump sum amount in return. There are other good life insurance policies too, but they serve a different purpose. In the insurance dictionary, these plans often fall under endowment plans.
In this article, we will cover money-back policies and whether these are helpful or not. We would also cover what are these and help you understand the benefits.
In a money-back plan, a policyholder is entitled to receive regular payouts as well as a death benefit. If you invest in these plans, you will keep receiving a small amount at regular intervals.
This insurance policy is the right choice for those who want a guaranteed return on their investment, while having the option of a regular payout. When opting for money-back insurance policy, one can get all this in addition to an insurance cover in the same premium amount paid for the plan.
Additionally, the best part about money-back policies is that they pay lump-sum amounts after maturity or in the event of the policyholder’s demise. Money-back plans start paying survival benefits over the lifetime of the plan, which is a great benefit. The survival benefit is only given if the policyholder survives the term, and the payment for it starts after a few years of starting the policy. After that, the policyholder keeps getting survival benefit until money-back plan reaches its maturity/p>
Money-back policies have numerous benefits linked to them. For starters, investors can earn a guaranteed return on their investment along with a life insurance cover. Let’s take a look at the top benefits of investing in money-back policies:
Money-back policy is an excellent option for those looking for a purely safe and secure investment. As it offers guaranteed returns in addition to insurance, it is great for buyers who prefer low-risk investments with good returns.
Money-back plans offer income at regular intervals after a certain period of policy term. This benefit is known as survival benefit. What is survival benefit though? Let us help you understand that with an example.
Survival benefit is offered by insurance policies that have different premium payment and policy terms. Let’s say you have invested in a money-back policy that has a policy term of 25 years. However, the premium payment term for this policy is 18 years. In this case, you will receive a survival benefit after 18 years.
Money-back policies offer both insurance and guaranteed returns. The returns at maturity are secured and guaranteed. The policyholder gets the amount they were promised at the beginning of the policy. Maturity payment is paid to the policyholder if the policyholder survives the policy term
A money-back policy works like traditional insurance too. Thus, in case of an unfortunate demise of the policyholder, the nominee gets the sum assured in addition to other bonuses (if any) that the company may pay to the family members (nominee). The death benefit reaches the nominee/spouse as a lump sum payout.
There are various other benefits and drivers linked to money-back policies and other saving plans. These policies are beneficial for those wanting guaranteed returns along with insurance. Understand your long-term financial requirements before you start investing in it. Money-back policies can be a good source of returns, especially if you invest in it early.
In this policy, the investment risk in the investment portfolio is borne by the policyholder.