MONEYBACK PLAN
A money return policy is a sort of life insurance that pays out money at predetermined intervals. Throughout the policy’s term, a percentage of the sum assured is repaid to the policyholder. If the policyholder dies while the policy is still active, the beneficiaries will get the entire sum assured, regardless of any Survival Benefits that have already been paid. In a nutshell, money-back plans are liquid endowment plans.