Have you ever wondered what happens to the premium of your life insurance plan if you happen to survive the entire term? Well, you will be glad to know that a money back life insurance policy has a built-in cash value accumulation, and you will get the money back. To find out more information, or if you are looking to purchase money back life insurance in Brampton, please do not hesitate to get in touch with Rai Rupinder today.
With money-back life insurance, you have the choice to add a rider on top of your policy at the time of purchase. The money-back feature will last your entire policy term. The plan works in the following ways:
- You can make either monthly or annual payments towards your premium to maintain the coverage.
- Based on the length and term of the plan, the insurance company will calculate your premium rates.
- If the policyholder dies, the beneficiary will receive a death benefit.
- If you happen to survive the entirety of the term, the insurance company will give back all the money you paid into the plan without any interest. Please note, the income is taxable.
Contact Rai Rupinder if you are looking for money-back life insurance in Brampton.
- The premium will be refunded if you survive the policy term.
- It can be used as a savings vehicle. It would not only reduce your unnecessary spending but also help you develop a grasp on your finances.
- Even though it is comparatively more expensive than a basic term life insurance plan, if you manage to survive the policy term, you will receive a lump sum amount of money paid to you.
- A money-back life insurance plan is slightly less costly than a whole life insurance policy.
- The premiums are higher than other life insurance plans
- The rate of return for money-back life insurance is lower than other securities like bonds, stocks, mutual funds etc.
- Based on the length and term of the policy, it can potentially compromise your ability to manage your money effectively.
If you choose Rupinder Rai for money back life insurance plans, you can rest assured; that you will be working with a professional and knowledgeable financial advisor with years of experience in the trade. To ensure you are satisfied with the terms and conditions before you make a well-informed decision, Rupinder Rai will offer personalized solutions at competitive pricing. If you are searching for money back life insurance in Brampton, schedule an appointment today.
The advantage of a money-back life insurance plan is that if you survive the policy term, you will receive the money back. Call today for more information.
The term limit for money-back life insurance in Brampton is for 20 years. Since a survival benefit is paid out to the policyholder, they must identify the percentage of the sum assured.
The best insurance plan would be a money-back life insurance policy. To apply, get in touch with Rupinder Rai now.
There is no contract for a money-back life insurance plan.