Top Money Back Plans/Policies to Invest

Choosing the right insurance policy can be pretty confusing especially when we want to secure our future and have a financial backup simultaneously. If you want a steady flow of income at regular intervals, then a money back plan is what you are looking for.

What is a Money Back Plan?

In simplest words, money back plans are a complete blend of insurance and savings respectively. Within a money back policy, you receive double benefits of both insurance and redemption of money at orderly intervals. A money back policy is specifically beneficial for those who look forward to a financial tool, which has low-risk but guaranteed returns.

Why One Should Buy Money Back Policy?

One of the best reasons why one should go for money back policy is that it provides a steady flow of income at pre-specified intervals so that the insured can meet his/her expenses at different stages of the policy tenure. This policy provides dual benefits of insurance and investment. Moreover, under this plan, one gets the advantage of a guaranteed return on investment and an opportunity to grow their wealth through investment opportunities.

With the above-mentioned details, it must have been made clear that this is an ideal plan for those who want to enjoy the benefits of both protection as well as a fixed source of income. So, what’s next? Well, now if you want to invest in a money back plan, then read ahead to know about the best money back plans you can invest in 2020.

Best Money Back Policies in India 2020

Money-Back Plans	Plan Type	Policy Tenure	Minimum Entry Age	Maximum Entry Age	Maturity Age	Minimum Sum Assured
ABSLI Vision MoneyBack Plus Plan	Traditional participating money-back  insurance plan	20, 24 and 25 years	13 years	45 years	N/A	Rs. 1,00,000
Aviva DhanSamruddhi	Traditional money back plan	10,15 or 20 years	13 years	55 years	23-70 years	Rs. 1,00,000
Bajaj Allianz Cash Assure	Traditional money back plan	16, 20, 24, 28 years	0 years	54 years	18 – 70 years	Rs. 1,00,000
Bharti AXA Life Child Advantage	A traditional participating savings plan	11-21 years	18 years	55 years	71 years for Regular pay 76 years for Limited Pay	Rs. 25,000
Canara HSBC OBC Smart Stage Money Back Plan	Traditional participating money-back life insurance plan	15 years	8 years	55 years	70 years	Rs. 1,00,000
Edelweiss Tokio Life Cashflow Protection Plan	Is a non-linked, participating money back plan	10, 15, 20 and 25 years	91 days	55 years	Nil-100 years	Rs. 2,00,000
Exide Life New Fulfilling Life Plan	Traditional money back plan	85-age at the entry	15 years	50 years	85 years	Rs. 75,642
Future Generali  Assured Money Back Plan	Traditional money back plan	15, 17, 20 and 22 years	18 years	50 years	N/A	Rs. 58,215
HDFC Life Super Income Plan	Traditional participating plan with life coverage	16 -27 years	30 years (for 18 to 27 years of policy term), 2 years (for 16 years of policy term)	48 years ( for a policy term of 27 years), 51years (for a policy term of 24years), 53years (for a policy term of 22 years), 55years (for a policy term of 20 years), 57years (for a policy term of 18 years), 59years (for a policy term of 16years)	18 – 75 years	Rs. 1,28,377
ICICI Pru Cash Advantage	It is a non-linked, participating money-back insurance plan	15, 17 0r 20 years	0	60 years	80 years	----
IDBI Federal Incomesurance Guaranteed Money Back Insurance Plan	Traditional money back plan	10 years	18 years	55 years	65 years	----
IndiaFirst Cash Back Plan	Traditional money back plan	9, 12 or 15 years	15 years	55 years	70 years	Rs. 50,000
Kotak Premier Money Back Plan	Traditional money back plan	16, 20 or 24 years	2 years	59 years	75 years	Rs. 1,50,000
Max Life Life Super Perfect Partner	A non-linked participating individual life insurance savings plan	75 years	91 days	55 years	75 years	Rs. 50,000
PNB MetLife Money Back Plan	Traditional money back plan	10 years	13 years	55 years	65 years	Rs. 2,50,000
Pramerica Smart Money Back	A participating plan	16-20 years	8 years	49 years	65 years	Rs. 1,20,000
Reliance Super Money Back Plan	A non-linked, non-participating non-variable plan with life coverage	10, 20, 30, 40, 50 years	18 years	55 years	28 – 80 years	Rs. 1,00,000
Sahara Dhan Vriddhi Jeevan Bima	Traditional money back plan	9, 12 or 15 years	9 years	60 years	70 years	Rs. 50,000
SBI Life- Smart Money Back Gold	Savings plan with life coverage	12 years (Option 1), 15 years (Option 2), 20years (Option 3), 25years (Option 4)	15 years ( option 1 and 2), 14 years (option 3 and 4)	55 years (option 1 and 2), 50 years (option 3), 45 years (option 4)	27 – 70 years	Rs. 75,000
Shriram Life New Akshay Nidhi Plan	Traditional money-back insurance plan	15-25 years	30 days	60 years	18-75 years	Rs. 1,50,000
Star Union Da-ichis’s Guaranteed Money Back Plan	Traditional money-back insurance plan	10, 15 or 20 years	13 years	50 years	10-year term: 60 years 15-year term: 65 years 20-year term: 70 years	Rs. 3,00,000
TATA AIA Life Insurance Money Back Plus	Money-back plan participating in bonuses	16, 20 or 24 years	2 years	51 years	18-75 years	Rs. 2,00,000
LIC Money Back Policy – 20 years	Traditional participating anticipated endowment plan with money back facility	20 years	13 years	50 years	70 years	Rs. 1,00,000
LIC New Children’s Money Back Plan	Child plan	25 years	0 years	12 years	25 years (min/max)

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer. Tax benefit is subject to changes in tax laws. *Standard T&C Apply

1- ABSLI Vision MoneyBack Plus Plan

This is a traditional non-participating money back plan. The maximum entry age of the policy is 60 years and the minimum sum assured amount paid to the insured is 180 times your monthly base premium. Some of the key features of the ABSLI Vision Money Back policy are:

• This is a traditional plan that offers loyalty additions but no bonus.
• The minimum sum assured is equal to 180 times the monthly premium paid.
• The plan offers double accidental benefit rider.
• A minimum guaranteed addition rate is offered by the policy.
• After the completion of 15 policy years, the policy provides loyalty addition, which increases every year.

2- Aviva Dhan Samruddhi

It essentially is one traditional life insurance plan that lets you save for a stipulated period and you get the money back every 5 years. With this plan, one can easily meet both the short and long-term needs as you also receive guaranteed maturity benefit. Listed below are some key features offered under the Aviva Dhan Samruddhi:

• It does participate in sort of bonus declaration.
• If you looking forward to an enhanced benefit, then the guaranteed additions are incorporated to the sum assured.
• In the case of high sum assured the premium rebates are attracted.
• As per the flexibility and the need, the insured can opt for a suitable term.

3- Bajaj Allianz Cash Assure

This is the traditional money back plan, which is a mix of protection and savings. To meet the financial requirements of the customers, the plan offers liquidity in the form of money back at regular intervals of time. The policy tenure ranges from minimum 16 years to maximum 28 years and the minimum sum assured offered by the policy is Rs. 1, 00,000. Here, let us highlight some of the features offered by Bajaj Allianz Cash Assure policy:

• This is a money back plan that offers periodic payout at regular intervals.
• The policy offers a guaranteed return on investment up to 150% of the sum assured.
• The insured can choose from the option of 4 policy term- 16, 20, 24 and 28 years.
• The female policyholders are offered special premium rates. 

4- Bharti AXA Life Child Advantage

With this traditional participating saving plans, you have the alternative to opt between the two maturity benefits endowment and money back respectively. You can opt either of them, which meets your child’s requirements and prospective professional goals. Besides, the plan also offers an innate premium waiver benefit. Listed below are some important features offered within the Bharti AXA Life Child Advantage plan:

• It offers guaranteed payouts over the most recent five years before maturity to meet the educational needs of the child. When the policy gets matured, it provides ensured maturity payout to help the child’s educational needs and initiate a fruitful career.
• You have the accessibility to opt for a policy term depending upon the age of your child.
• In the case of timely payment of all the premiums, then towards the end of each year, a non-ensured reversionary bonus is accumulated in the plan. When the policy gets matures, most likely the bonus is paid then.

5- Canara HSBC OBC Smart Stage Money Back Plan

This plan helps you at your life’s every planned milestone. It offers liquidity by providing money back advantages at orderly intervals. The following are some of the key features offered within this plan:

• The survival benefits are to be paid in the fourth, eighth and twelfth policy year.
• For the high sum assured levels, rebates are accessible.
• The yearly bonuses are included for each of the years when the premiums are duly paid.

6- Edelweiss Tokio Life Cashflow Protection Plan

This plan is a participating savings plan, which will safeguard until you reach the age of 100 years. The following are some of the features offered in the plan:

• The cash bonus is a non-guaranteed advantage that will be paid each year at the commemoration of policy post premium instalment term alongside the past benefit. This bonus depends on the standard performance of the fund and will be paid until the maturity or death, whichever is prior.
• The reversionary reward is a non-ensured accumulation advantage. This reward will collect from the initial policy year up to the finish of the premium payment period and will be identified with the standard fund. This advantage will be paid either toward the finish of the term or on the passing of the policyholder, whichever is prior.

7- Future Generali  Assured Money Back Plan

This plan essentially gives you the benefit to choose from the four premium payment terms respectively and is specifically help those who have an irregular source of income. Let us have a look at the below-mentioned features offered within this plan:

• At the time of maturity of the policy, the maturity benefit is paid to the insured.
• The insurer will obtain 10% of the complete sum, which is assured to the insured for 9 years.
• As per the existing tax regulations, the nomination is permitted.
• The facility of loan can also be availed.

8- HDFC Life Super Income Plan

This is a plan, which does not allow you to worry about the future expenses and one can fulfil the financial goals without facing any hassle or interruptions. Listed below are some of the features offered within the plan:

• There is no need to undergo any medical examination or investigation.
• A guaranteed source of income at regular interval.
• Option to opt the policy term and premium payment mode as per your convenience.

9- ICICI Pru Cash Advantage

This plan adds on to your regular income and guaranteed cash benefit. It generally commences from the year when the premium payment tenure ends. Listed below are some features offered within the plan:

• It gives a lump sum payout, which helps you to shield the future.
• You may pay the premium based on your comfort and accordingly opt for the payment options.
• It provides all-round security to your family even in times of your absence.
• You will receive a bonus if any as declared by the insurance provider.

10- IDBI Federal Income Insurance Guaranteed Money Back Insurance Plan

This plan offers a life cover along with an ensured yearly income. All you need to do is pay the premium for the initial five years of the policy and you will be provided with a lifetime cover throughout the policy period. The following are some of the features offered within the plan:

• The convenient premium payment options are available.
• A complete financial safety net in times of any adversities.
• You will be able to obtain guaranteed payouts.
• You need to pay the premium for a specified time.
• The option to choose the amount for premium as per your suitability.

11- IndiaFirst Cash Back Plan

This plan let you live in the present, create cherishable memories and not leave with any sort of financial regret. This plan secures your future in every possible manner. Below-listed is some features offered within the plan:

• It allows one to meet the short and long-term monetary goals through orderly assured payouts.
• Through guaranteed additions, you can easily enhance your investments.
• The sum assured is fixed depending upon your age, policy period, etc.
• In case of cancellation of the policy, you will obtain the refund value.

12- Kotak Premier Money Back Plan

This plan enables you to secure your today for a better tomorrow. It is a unique amalgamation of protection and savings. This is one plan, which offers lump sum payout throughout. Below are some of the key features offered under the plan:

• It offers regular payouts at certain intervals throughout the different tenure.
• In case of an accidental demise, enhanced demise cover with an extra payout.
• Towards the end of the policy term, depending upon the chosen policy term obtain a lump sum benefit.

13- Max Life Life Super Perfect Partner

It is a traditional money back plan, which lets you save for a laid back and cherishable retirement. This plan lets you simplify your financial planning and investment simultaneously. The following are some of the features offered within the plan:

• You do not need to rely on anyone else for your after retirement plans as this offers guaranteed yearly money backs.
• Obtain life insurance coverage until the age of 75 years.
• Protect your life partners’ future even when you are not around by opting for additional riders.
• You also get the advantage of bonus alternatives if applicable.

14- PNB MetLife Money Back Plan

This plan offers guarantees to your family and the dependants that they will be financially secured in case of any untoward incident and you will surely receive ensured money back. Listed below are some features offered within this plan:

• Survival benefits to be paid from the fifth year of the policy and continue for the coming five years.
• Premium rebates are accessible for premium paying mode and increased sum assured.
• Availability of free lookup period of 15 days from the date the documents of the policy has been received.

15- Pramerica Smart Money Back

This plan offers guaranteed money back to the insured at certified specified intervals. This also helps you to meet long-term financial goals. The following are some of the key features offered within this plan:

• In case the policy has lapsed, it can be revived within 2 years of the date of the initial not paid premium.
• The policyholder provides a 30 day grace period for all premium payment modes.
• The insured may also receive a bonus along with the maturity or the death benefit.

16- Reliance Super Money Back Plan

Reliance Super Money Back Policy is a non-linked participating and non-variable plan that provides life coverage within the policy tenure of 10 to 50 years. The minimum entry age of the policy is 18 years and the maximum entry age of the policy is 60 years. The policy provides a minimum sum assured of Rs1, 00,000. To help you know more about the policy, you can check the special features of the Reliance Super Money Back Policy.

• Until the maturity of the policy, the money back benefit is paid every 5 policy years.
• At the end of the premium paying term, loyalty additions are payable.   
• The premium paying term is half of the policy term. 

17- Sahara Dhan Vriddhi Jeevan Bima

This plan offers the benefit of life cover until the policy gets matured at the cost of one-time premium payment. This plan essentially not only offers protection towards any untoward incident that may occur besides it also offers a specified percentage of the sum insured at regular intervals. The following are some key highlights offered within this plan:

• The plan offers the free-look period wherein a total of 15 days is allowed to the policyholder in case one is allowed to cancel within the specified time-frame when one is dissatisfied with the bought policy.
• The facility of loan is offered within this plan.
• You can make the premium payment through different modes whatever likely suit you.

18- SBI Life- Smart Money Back Gold

The plan is designed in a way, which meets and fulfils the financial obligations and your family, can receive cash backs at the regular period in case of your untimely demise. The following are some key highlights offered within the plan:

• One can enhance the plan and opt for different benefit riders.
• Till the policy gets matured, the benefit payout of regular survival.
• Customized money back alternatives depending upon the requirements of the customers.

19- Shriram Life New Akshay Nidhi Plan

This plan helps you to have a flow of income at regular intervals. This plan essentially provides survival benefit, death and maturity benefit respectively. Listed below are some features offered in the plan:

• In case the policyholder passes away during the policy period, the complete sum assured including the vested bonus will be payable regardless of the survival benefit beforehand paid.
• Multiple policy term alternatives.
• You can enhance your policy and opt for additional benefit riders.
• Within the plan, a high sum assured discount is offered.

20- Star Union Da-ichis’s Guaranteed Money Back Plan

This plan offers orderly payouts at specified intervals. A money back plan, which not only offers financial security but at the same time offers stability for the coming times through guaranteed lump sum payments and also meeting the financial needs on a short-term perspective. The following are the key features offered within the plan:

• In case of high sum assured, the insured to obtain a rebate upon the premium.
• The 200% of the annualized premium is paid in a lump sum called a survival benefit every five years.
• The benefit of the limited premium payment that is only 10 years of the policy term.
• Eligible for tax benefits within the existing tax regulations.

21- TATA AIA Life Insurance Money Back Plus

This plan provides the dual benefit of both savings as well as life cover. With the guaranteed flow of cash at a regular point of time, this plan enables you to fulfils your wishes and dreams. Listed below are some key features offered within the plan:

• When the policy has acquired a surrender value, a loan can be taken under the policy.
• When the policy gets matured the insured will receive the vested reversionary bonus, as well as the assured sum.
• If the terminal bonus is applicable, then it is payable even.

22- LIC Money Back Policy – 20 years

LIC Money Back Policy-20 years is a traditional participating endowment plan with money back policy. The policy term is 20 years and the minimum to maximum entry age of the policy ranges from 13 years to 50 years. The plan has a maturity age of 70 years and provides a minimum sum assured of Rs. 1, 00,000/-. Some of the best features of the LIC Money Back policy are as follows-

• The plan provides a comprehensive life insurance cover against death.
• The death benefit is payable as a lump sum of basic sum assured plus all the bonuses irrespective of all survival benefit paid earlier.
• The plan also provides surrender benefits. 

23- LIC New Children’s Money Back Plan

This is a traditional money back child insurance plan that is designed to secure the future of your child even if the parent is not around. The plan provides life insurance coverage to the child. With a policy tenure of 25 years, the minimum entry age of the policy is 12 years and the minimum sum assured offered by the policy is Rs. 1,00,000. Some of the key features of the LIC Money Back policy are as follows:

• It is a participating plan with a limited premium payment option.
• Following the completion of 18 years of age, the policy gets matured in the name of the life assured after the completion of the policy tenure.
• The policy is designed to cater to the needs of growing children.
• The policy can be bought by parents and grandparents for a child aged between 0 to 12 years. 

Money back plans are undoubtedly one of the smartest ways to plan your future investment cover. So, before you zero in on an insurance plan, it is important to understand and analyze the pros and cons of the plan.

The above discussion on money back plans will help you pick the right plan that suits your financial requirements.

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer. Tax benefit is subject to changes in tax laws. *Standard T&C Apply