LIC's Money Back Insurance plans are one of the popular plan in the market. Money Back plans are considered to be the best for short term plan because it pays back every 5 years.The main benefit is Life cover. Under this plan, in the event of death at any time within the policy term, the death claim comprises full sum assured without deducting any of the survival benefit amounts, which have already been paid. Similarly, the bonus is also calculated on the full sum assured.
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