All
Health
Life
Term
Motor
Travel
LIC
General Queries

How to receive survival benefit of money back policy?

A money-back policy is basically a plan that offers money-back at regular intervals. the insured will receive survival benefits at regular intervals during the plan tenure. There is a fixed interval where the benefits would be paid. Each plan carry a different payout structure. Similarly, the percentage of Sum Assured paid as Survival Benefits is also not fixed and varies according to plans. You should check it with your insurance company and read your policy in detail to know the exact format of survival benefits that your plan offers.
Asked by Ratan Singh on 30 Oct, 2018 in Term Insurance
3
  • 1 Votes Click Above To Vote
1

A money-back policy is basically a plan that offers money-back at regular intervals. the insured will receive survival benefits at regular intervals during the plan tenure. There is a fixed interval where the benefits would be paid. Each plan carry a different payout structure. Similarly, the percentage of Sum Assured paid as Survival Benefits is also not fixed and varies according to plans. You should check it with your insurance company and read your policy in detail to know the exact format of survival benefits that your plan offers.

30 Oct, 2018
  • 1 Votes
    Click To Vote
  • 1 Votes Click Above To Vote
1

Hi Saroj, As per the latest verdict by IRDAI in August 2018 all the mental illnesses will be eventually covered by health insurance firms. This move has also been inspired by alarming increase in mental diseases and its growing awareness. Mental illnesses like Schizophrenia and other critical ailments are expected to be covered as per new rule.

Many health insurance companies have supported this move and making provisions for its inclusions. It may be implemented within a couple of months. Some of them might have already included them as a part of add-on cover. Stay updated with all the latest news related to your health insurance plans. Please inform if you have any other query.

30 Oct, 2018
  • 1 Votes
    Click To Vote
  • 0 Votes Click Above To Vote
0
Money back policy offers you liquidity as per your requirement after regular intervals. Goes without saying if you haven’t taken the funds during the tenure of this plan than you may get the balance as lump sump. To know the exact details kindly share the insurance policy from where you can taken the same. As the terms and conditions of all the insurance policy will differ in one way or other. Hope it answer your question.
30 Oct, 2018
  • 0 Votes
    Click To Vote

Ask Question Login
Email
Password
Name
Email
Phone
Password
Close
Q/A Login
Email
Password
Name
Email
Phone
Password
Close
Ask Question

Ask Question