Dear Vinay,

Good that you posted the query on behalf forum. It is advisable to keep Insurance and Investment separate and not go for a product that offers both. Since you already have a term cover it is advisable to enhance the term cover by taking another term plan, don't forget to inform the new insurer about the existing term cover. The policies from different companies would be payable in case of eventuality.

There are different products available in the market for investment, please don't put your hard earned money in money back plans.

Let me know if you have any follow up question.

Stay Safe

Dear Vinay

Money back does not offer investment with good returns , it is an option of convenience and liquidity .

You get back your money only and not the returns so do not grt confused with word monry back .

Yes , in case of death your nominee would gey claim from all insurance policies held .

As you have term cover hence choose a mutual fund to build portfolio for investment.

You can reach us for any clarification.

Shailesh

Insurance Samadhan

Dear Vinay

No money back plan can offer 7.5% return , it will be approx 3% only .

You are confusing due to money back . Your returns on investment is accrued each year an you get on maturity only .