Money Back Plans at HDFC Standard life Insurance

Whenever you plan for your future, ideally you should set out with specific goals and these should have costs and deadlines attached to them. Once this is done, money back plans provide an excellent vehicle to take you to the fulfillment of these goals.

The Money-back plans are insurance products which pay out pre-defined benefits at periodic times during the entire term of the policy. In a money-back plan with a 20 year term, 25 per cent of the sum assured could be paid out after every five years (i.e., at the end of the 5th, 10th and 15th year) and the remaining 25 per cent of the sum assured along with the bonus, if any, would be paid out at the end of the 20th year. However, in the case of the unfortunate death of the insured person, the total sum assured (100%) and bonuses will be paid.

Benefits:

Since a part of the sum assured is received periodically, Money Back Plan combines short term financial goals with long term savings and insurance.

The Tax benefits under Section 80C are applicable on the all premium paid.

The periodic lump sums and maturity amount is tax free.

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