Money Back Policy Meaning

Money back policy refers to that insurance policy under which the insured gets periodic payments from the insurance company, which is not the case with other policies where the insured gets money only after stipulated time or on death of the person and not regularly. One benefit of this policy is that if the insured dies than he or she would get full amount of the insurance amount which he or she has taken and the periodic payment which he or she has received as survival benefit until now won’t be deducted.

It can be better understood with the help of an example, suppose if a person has taken a policy of $10000 of 20 years and policy states that after every 4 years he or she would receive $2000 and after 10 years the person dies than insurance company will pay full amount $10000 and wont deduct the $4000 which it has paid to the insured so far.

0 comments… add one

Leave a Comment


Related pages


advantages of debenturescapm assumptionwhat is full form of cfaadvantages of payback periodadvantages and disadvantages of market penetration strategywhat is substitution effecthorizontal and vertical analysis of a financial statementfund flow cash flowexample of prepaid expensefloat exchange ratefull form cfaexamples of horizontal mergersjournal entries for unearned revenuesubstitutes goods examplesunearned revenue deferred revenuewhat is convention of materialityfictitious asset meaningwhat is a trade discount in accountingdirect and indirect quotation for exchange rateswhy is a trial balance preparede trading advantages and disadvantagesadvantages and disadvantages of secured loansmerits and demerits of decentralizationadvantage and disadvantage of international tradecapitalism and socialism differenceslong term bank loan advantages and disadvantagessystematic and nonsystematic riskadvantages and disadvantages of delegation in managementcharacteristic of monopolistic competitionfmcg companies full formadvantages and disadvantages of specializationexamples of job costing and process costinghire purchase advantages and disadvantagesdefine consignorzero based budgeting advantagescapitalist economy advantagessocialism advantages and disadvantagesmeaning of wholesalingdefine job costingfactoring vs discountingadvantages and disadvantages of breakeven analysisdcf techniqueswhat is the profitability ratiofifo disadvantageswage push inflationconsignor meansadjusting entries for unearned revenuevertical analysis and horizontal analysisslr fullformbenefits of autocracyexamples of semi durable goodsmixed economy definition economicsinvestment appraisal payback periodstock turnover ratio interpretationskim the cream pricingdisadvantage of break even analysiswhat is free market economy advantages and disadvantageswhat is direct and indirect quotationadvantages and disadvantages of dictatorshipdefinition of unsystematic riskaccounting materialitydisadvantages of economic globalizationdefine skimming pricingmcdonalds monopolistic competitiondefine operating leaseadvantages of planned economysubstitutes economics examplesdecentralization disadvantagesconglomerate diversification definitionmarginal costing in management accountingwhat is the difference between monopoly and oligopolycartage outwardstrade discount in accountingadvantages and disadvantages of organizational structuresadvantages and disadvantages of venture capitalgolden rules of accounts with exampleswhat is tariffs and quotasaudit opinion unqualifiedweaknesses of a command economyexplicit vs implicit costsdifference between quotas and tariffs