What is the MONEY BACK ADVANTAGE PLAN in canara bank, how to invest in this plan. – 1014


Hii friends, today I am going to tell you about a good plan that will give money back to those who take this plan and also it has many advantages. I request you to read this article till the end and know the complete details about this plan. This plan is an individual darling insurance plan and savings plan. Likewise, this product offers you guaranteed full money back payments during the policy term. Similarly, the plan comes with a guarantee on maturity and a full amount bonus which can also be used by this Canara Bank customer to fulfill various planned milestones.


By opting for this plan you will get good returns on your investment and premium taluk benefits. So this plan will help you to double your investment as well as in your critical time. Now let’s know about the features of this plan. First of all this plan offers guaranteed 1 money back payouts for 3 policy periods by opting for it. Similarly the guarantee is equal to 55% of the maturity benefit of both of them. Similarly I am going to tell you now about the who of this policy as there are many ideas about the duration of this policy. Just 16 years old. Similarly, Canara Bank has said that the payout will be given after the completion of the 10-year limited payment period. There are also tax benefits on the premiums you pay and the benefits received.




This plan is tax free regime. Also the entry age for this plan criteria is minimum: 8 years Maximum: 55 years (in case of monthly mode, maximum entry age is 45 years) so you complete the maturity period when you reach 71 years. By choosing this plan you will get three types of benefits first is death benefit and second is guarantee benefit and third is survival and maturity benefits. I will tell you the complete details of this plan through this article. When you opt for this plan, Canara Bank gives you the option to pay for this plan in installments as well. No matter which installment you choose you will get 15% profit.


Similarly now let us know about the maturity benefits of this plan. If all the premiums are paid by you till maturity, you will definitely receive the guaranteed sum assured on maturity, along with 55% of the sum assured plus accrued simple reversionary bonus and terminal bonus, if any. By paying the above benefits, your policy will be cancelled. Similarly let us now know about the death benefits of this plan.


Canara Bank says that if you unfortunately die during the policy term, if you have paid all the premiums due, the death benefit will be payable to your nominee. Your death sum assured and reversionary bonus and other bonuses will be part of the year of your death, if any, and terminal bonus, if any. Also Canara Bank states that 105% of the total premiums paid to you till the date of death less the excess premium, if any, will be the sum assured on death. 10 times the annual premium; Or for a policy where the sum assured is in force for you, the survival benefit already paid as well as the guaranteed money back payments are not deducted from the death benefit payable.



Likewise on payment of the above benefits, your policy will be canceled and no other benefit will be paid to you. I will try to tell you about many more such interesting fans so please visit my website often. I sincerely wish for your support to be always like this and many more such plans will be mentioned in your articles thanks.

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