Money back plans are fixed duration insurance plans with savings feature attached and hence an investment linked insurance policy. There is a sum assured if the policy holder dies within the duration but money back plans are taken mainly for the survival benefits. The survival benefit, in case of a money back plan, is paid at regular intervals rather than at the end of the term. You start receiving back a fixed percentage of the survival benefit at a after every five years or ten years or as the policy mentions.

While taking the money back plan, there are a few things that you may want to keep in your mind : 

1. The duration at which you get the money back coincides with your anticipated expenditures 

2. The amount you get every time takes of substantial financial burden 

3. Premium amount and what percent age of it go for insurance and what for the investment 

4. Premium paying term  

An important benefit of a money back policy is that even if the policy holder dies after having received a few money backs, full sum assured is given to the nominee without deducting the already paid amount. This facility strengthens its role as a life stage planning instrument.