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    Get Life Insurance
    That Pays You Back

    Enjoy the security of life insurance with the added benefit of getting your premiums back if you outlive your policy-flexible, guaranteed, and designed for smart savers.

    Punjab Insurance helps Canadians protect their families and grow their savings with flexible Money Back Life Insurance plans. We compare Canada's leading insurers to find the best options for your needs and budget.

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    What Is Money Back Life Insurance?

    Money Back Life Insurance provides life coverage plus a guaranteed refund of your premiums if you outlive the policy term. Unlike traditional term policies, which only pay out if you pass away during the term, money back plans give you a safety net-either way, you get value.

    • Premiums returned if you outlive the policy
    • Life insurance protection for your loved ones
    • Acts as a built-in savings tool
    • Flexible payout and policy terms

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    Types of Money Back Plans

    Traditional Money Back Term
    Traditional Money Back Term

    Fixed payouts at intervals and a maturity benefit if you survive the term.

    Return of Premium Rider
    Return of Premium Rider

    Add-on to term insurance that refunds all premiums if you outlive the policy.

    Hybrid Plans
    Hybrid Plans

    Combine investment and protection, offering guaranteed payouts or cash value accumulation.

    Why Choose Money Back Life Insurance?

    No loss of premiums if you outlive the policy
    No loss of premiums if you outlive the policy
    Ideal for savers and cautious investors
    Ideal for savers and cautious investors
    Affordable alternative to whole life insurance
    Affordable alternative to whole life insurance
    Helps build a lump sum for retirement or life milestones
    Helps build a lump sum for retirement or life milestones
    Flexible options for every stage of life
    Flexible options for every stage of life

    How Does Money Back Insurance Work?

    Pay premiums monthly or annually to maintain coverage
    Pay premiums monthly or annually to maintain coverage
    Pass away during the term
    If you pass away during the term: Your beneficiaries receive a generally tax-free death benefit (under current Canadian tax rules)
    Outlive the policy
    If you outlive the policy: You get a lump sum refund of all premiums paid (usually taxable as income)
    Payout
    Some plans offer payouts at regular intervals or as a final maturity benefit
    Return Premium
    Return of Premium Riders can be added to certain term or hybrid policies

    FREQUENTLY ASKED QUESTIONS

    Frequently Asked Questions about
    Money Back Life Insurance

    Can I withdraw part of my cash value during the term?
    Yes, many money back and cash back policies allow partial withdrawals-check your policy terms for details.
    Are payouts tax-free?
    Death benefits are generally tax-free for beneficiaries; returned premiums may be taxable as income.
    Is money back insurance more expensive?
    Premiums are higher than basic term insurance, but you get your money back if you outlive the policy.
    Can I add this feature to my existing policy?
    Some term plans allow you to add a return of premium rider-ask your Punjab Insurance advisor for details.
    How do I get started?
    Get a free quote or schedule a call with a licensed Punjab Insurance advisor for expert, personalized advice.
    View all Faq's

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    Why Families & Businesses Choose Punjab Insurance

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    Get life insurance that gives back while you live. Enjoy guaranteed payouts at regular intervals along with lifelong protection-helping you meet financial goals today while securing your family's future for tomorrow.
    Disclaimer: Information on this page is for general guidance only and not a substitute for professional advice. Please consult a licensed Punjab Insurance advisor for personalized recommendations.