Mr. Vishal had taken an Insurance of Rupees 50 Lakhs, for a Period of 25 Years. On Maturity, the Insurer pays the Maturity-Claim Minus the Survival-Benefits, Received During the Term of the Policy. Which Type of Plan, was taken, by Mr. Vishal?

Question

Quizplus · Accepted Answer

The description matches a Money-Back Assurance Plan, where the insured receives partial payments at regular intervals during the policy term, and upon maturity, the remaining amount is paid minus the survival benefits already received.

Mr Vishal Had Taken an Insurance of Rupees 50 Lakhs