The obvious pro for this type of policy is that at the end of the term, you will be getting your premium amount back which can be a lot depending on the term period. With insurance policies, you may often think that what if I never use insurance and you would only be paying monthly premiums for nothing. Well, with Money Back Life Insurance you get a complete refund.
Also, you can think of the policy as an aggressive saving vehicle. If you are not good with savings, then by putting some extra cash in this policy and saving it for the future. Eventually, you will get the entire amount back.

Money Back Life Insurance is a great choice is if you have a buy/sell agreement with a business partner. The agreement states that if you die first before the policy term ends, your partner will buy your share in the agreement and vice versa. The insurance policy makes sure that you or your partner get a complete refund one way or the other.

Money Back or Cashback Life Insurance is another type of term insurance that offers coverage for a set period and then expires. The difference is, you receive your money back at the end of the term. You can find out more about this policy by getting in touch with Rupinder Rai. As a professional insurance broker, she offers her services to clients across Ontario.