Let's assume that a 35 year old has taken a 20 lakh Sum Assured money back policy for 20 years. He gets 25% ie 5 lakh in the 5th, 10th and 15th year as Survival benefit.
He has received 75% of his Sum Assured already, but if death happens now, his nominee still gets the Full Sum Assured 20 lakh again plus all the Bonuses declared.
This is one reason why the money back Life insurance policy is popular among Insurance buyers.
#lifeinsurance #DeepakRKhemani #money #personalfinance
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