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Incomesurance Guaranteed Money Back Insurance Plan is a non-linked, non-participating money back plan which offers guaranteed returns on the money invested by you in the form of premium, so that you stop worrying about the future.With Incomesurance, you can guarantee a secure future for your family, even when you are not around.
Get QuotesIn case of the unfortunate event of death of the life insured during the policy term, your nominee will get the death sum assured, which is the highest of:
Guaranteed annual payouts are paid every year from the 6 to 10 policy year and are expressed as a percent of annual premium (exclusive of service tax, education cess and mortality loading ) depending on the age at entry.
This percentage depends on your age as shown in the table below:
Maturity benefit is payable on the survival of the Life Assured till the end of the policy term. Maturity benefit is equal to the Maturity sum assured is the sum of all the guaranteed annual payouts
The plan is not eligible for any bonus as it is a non participating plan.
The loan amount you get will be limited to 85% of the guaranteed surrender value at the time of application, subject to terms and conditions specified the company from time to time.
The surrender value payable will be higher of the Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV) provided 2 full years’ premiums have been paid.
The plan helps in getting tax benefits under section 80C and section 10 (10D) of the Income Tax Act,1961.
| Factor | Minimum | Maximum |
| Age (as on last birthday) | 18 Years | 55 Years |
| Age at Maturity | - | 65 Years |
| Policy Tenure | 10 Years | 10 Years |
| Premium Paying Term | 5 Years | - |
| Premium Paying Mode | Annual | - |
| Premium Amount | Rs 20,000 | Depends On Max Sum Assured |
| Sum Assured | 10 Times Of The Annual Premium | - |
| Freelook Period | 15 Days/ 30 Days (for Distance Marketing Channel) From The Receipt Of The Policy | - |
| Grace Period | 30 Days | - |
| Plan Type | Offline | - |
No Riders are available under this plan.
Let us understand the plan with the example of Rameshwar:
Life Insured: Rameshwar
Age: 40 years
Policy Term: 10 years
Premium: Rs 1 Lakh per annum
The guaranteed annual payout begins from the end of the 6 year to the end of the 10 year will be guaranteed at 135% of the annual premium paid. This means that if you pay a premium of `1,00,000 per annum for 5 years, you would receive a guaranteed annual payout of `1,35,000 from the end of the 6 th to the end of the 10 year. The guaranteed annual payouts are subject to you paying all due premiums in full. Throughout the term of 10 years, your family will be financially protected against uncertainties through the life cover of `10,00,000 that you get with Incomesurance.
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