Life insurance with a money-back
Whether you choose Whole Life Insurance or Universal Life Insurance, both of which have cash values, you might wonder what happens to your life insurance premiums if you survive the whole term of your policy. Life insurance policies that offer money-back can help you recover this money. For more information, don’t hesitate to get in touch with Pankaj Bhatia.
The topic of today’s discussion is Money Back Life Insurance.
As the name suggests, it speaks for itself. You receive a percentage of the sum assured during the money-back term policy. Based on the sum assured, this percentage is calculated during maturity. In the event of your death during maturity, the monthly percentage amount will not be deducted, so your family will receive the entire assured sum.
There are only two types of life insurance offered by MoneyMoneyBack in Mississauga: Whole Life Insurance and Universal Life Insurance. If you want to enjoy the same benefits, you can include a money-back clause in your Term Life Insurance policy. There are different percentage amounts for different plans, and the sum assured amounts are paid. Percentage amounts are not fixed, but the sum assured is. Insure In Canada in Mississauga can assist you with any questions; feel free to contact Pankaj Bhatia.
In a term insurance policy, how should a money-back clause be drafted?
Depending on where you live, you might need to pay a little more. If you live out your tenured period, you will receive a lump sum on the entire amount. An ROI clause can be added to our Term Insurance Plans to get your money back at the end of the term. By renewing your plan, you can also increase your lump sum amount.
You are covered if you are unfamiliar with your insurance plan or policy regarding paperwork. Based on your needs, we have almost ten years of experience in this field. Putting your interests first is always our priority. Find out more about our money-back life insurance plan by contacting us today.
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Money-back guarantees have the following features.
- Regularly using it can add to your income.
- Savings and insurance coverage are offered through the program.
- The beneficiary would receive the entire sum assured in the event of the policyholder’s death.
- Guaranteed returns
- Premiums are tax-free, and growth is not limited.
- The monthly payment may be higher if a money-back clause is included in the Term Insurance Plan, but it will not exceed a predetermined amount.