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Money-Back insurance

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Money-Back insurance

Have you ever wondered what happens to the premiums in your life insurance policy if you survive the entirety of the term? You will be pleased to know that if you choose a money-back life insurance plan, you can get the entire amount back, including the premiums as it has a built-in cash value. For further enquiries on money-back life insurance in Brampton, please do not hesitate to contact Harjinder Sandhu today.

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All you need to know about a money-back life insurance plan

The name itself is self-explanatory. During the tenure of your policy, you are guaranteed to get a percentage of your sum. This percentage is calculated based on the total sum you will receive at the end of the maturity period. In the event of your untimely demise, your loved ones will stand to receive the entire amount at the end of your policy’s maturity period. Additionally, the monthly percentage amount will not be deducted. Money-back life insurance Brampton falls under the whole life insurance and universal life insurance category. For more details, feel free to call Harjinder Sandhu, I will be more than happy to resolve them.

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Various features of a money-back insurance plan:

  • It can be considered as an additional source of regular income.

  • This insurance plan is a low-risk savings option providing insurance coverage as well.

  • If the owner of the insurance plan passes away, the beneficiary will receive the full amount.

  • Returns are guaranteed.

  • There is no limit to the premium growth amount, and the amount is tax-free.

  • They offer insurance coverage alongside maintaining liquidity through regular income for individuals that take fewer risks.

  • This plan promises fixed returns after a pre-defined policy term.

  • The policy plans range between ten to thirty years. Once the plan matures, the policyholders have the option of selecting a fixed lump-sum amount or earning regular income at fixed intervals as a payout option based on the plan structure. The option depends completely on the plan you opt for, the tenure and the premiums.

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    Benefits of a money-back life insurance plan:

    A money-back life insurance policy has several benefits, making it the most preferred life insurance product for investors of all ages and income backgrounds. Below-mentioned is some of the benefits of a money-back plan:

    • Assured sum In the event of something unfortunate, the insurance provider will pay out an assured lump-sum amount to the beneficiary of the plan. The funds can be used to cover various expenses such as taking care of your dear ones financially, paying for your final expenses, and much more. However, if you complete the full policy term, the insurance company will pay you survival benefits based on how the plan has matured. This will certainly help you to go after your future financial goals, like paying for children’s education, purchasing your dream home, retirement etc. So, if you need money-back insurance in Mississauga, look no further than Harjinder Sandhu.

    • Offers an insurance cover: A money-back insurance policy is an effective investment product. You can choose a plan that not only meets your financial requirements; but also looks after your dear ones in the event of your death. Insurance plans like these are reliable and ensure that your family is financially stable in your absence.

    • Low-risk insurance policy:Various investment products such as mutual funds, stocks, bonds, equities etc., can get affected based on the performance of the market. With a money-back insurance plan, you are guaranteed to get returns at regular intervals, thereby making this insurance policy reliable and stress-free. If you want to maintain a low-risk profile, this insurance plan is the ideal option for you. They can diversify your investments and create a balanced pool of investments that are volatile and non-volatile.

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    • Offers additional bonuses and returns within a few years of investing: Money-back insurance plans are a regular source of income offering a stream of money at regular intervals. Additionally, the plans also offer several bonuses at the end of the year as a reward for being in the plan. These bonuses significantly increase your overall payout helping you fund your goals. It also provides certain tax benefits.If you are looking to buy money-back life insurance in Mississauga, contact Harjinder Sandhu today and schedule an appointment.