Moneyback Plans
Buying a money-back insurance plan is not the end of your journey, and we understand that. With OneInsure, experience the new way of purchasing, managing and getting service support on all types of money-back policies.
Right from keeping your policies claim ready till claim settlement, we got everything covered!
Round-the-clock assistance from our team of subject matter experts on all types of term policies for a lifetime.
Compare money-back insurance plans and get the right policy at the most competitive rates.
Experience the ease of managing your policies from anywhere and anytime.
Here are some time-tested nuggets of wisdom from the desk of our in-house insurance gurus.
Money-back plans typically offer payments either annually (comparatively lower money-back) or in intervals of several years (comparatively higher money-back). If you go for the annual option, it is similar to having a second income. If you go for payments in intervals of several years, ensure you align these intervals to important family milestones like child’s graduation, child’s marriage, and so on.
The point is self-explanatory. If the insurer has your money for 10 years, the sum keeps compounding and becomes a large one. If, on the other hand, the insurer has your money for just 4 years, the money compounds for a shorter duration and you will receive lower returns. It is always wise to begin early in order to then enjoy larger returns. Start today so you can relax tomorrow.
Explore the reasoning behind choosing this dynamic plan and check whether it suits your purposes. Use these tips to know which is the best moneyback policy for you.
When you choose the annual method of payments with your money-back plans, these act as your second income. You are simply enjoying the fruits of your good saving habits at a later stage in life.
When you choose the interval method of payments (money-back in intervals of several years) with your money-back plans, you can use this money for major milestones in your and your family’s lives. These payments come in handy during events like your child’s marriage, for example.
Moneyback policies are the investment of choice of celebrities, sportspersons, and others who are in a profession where income tends to be on the higher side and retirement is early. The investments made into moneyback plans can sustain them at the same standard of living for several years after retirement. Thus, they use money-back insurance policies like lifetime income plans.
Know what you are buying! Before you make up your mind about your policy, it is recommended to go through our FAQs to understand the different aspects of a money-back insurance policy.
Moneyback policies are simple endowment plans with a liquidity benefit. In moneyback plans, you receive a specific percentage of the sum assured at regular intervals (which is called Survival Benefit) and the remaining percentage of the sum assured along with vested bonuses is paid on maturity. This is a type of insurance investment plan.
For example, under a money back plan of 25 years with Rs 10 lakhs as the Sum Assured, you receive 15% of the Sum Assured (that is, Rs 1,50,000) after the 5th, 10th, 15th, and 20th years and the remaining 40% (that is, Rs 4,00,000) on maturity.
You may also use OneInsure’s money back policy calculator to have a better idea about the plan you have chosen.
If you’re an individual looking to save some money through insurance, and at the same time you wish to maintain liquidity throughout the policy tenure, then a money back policy is what you need to opt for. Money back policies are used like lifetime income plans and complement life insurance investment plans. Some of the benefits that you receive under a money back policy are:
In order to choose the right money back policy, consider the following aspects:
These aspects will help you select the right money back insurance policy. However, if you’re still not sure and require assistance, do not hesitate to reach OneInsure right away. Drop us an email at support@oneinsure.com or call 86-559-86-559.
By adding riders (at an extra premium) to your money back plan, you can boost your protection against a number of unforeseen events. Three riders that you may be interested in availing are:
