Money back life insurance plan provides for periodic payments during its tenure, it gives back money to policyholder at different points in time usually 4-5 years. The investments done are similar to endowment plans. Money back policy will give you a fixed percentage of the sum assured after 4 or 5years. For example, if the policy is of 20 years, then company will pay 15% after every 4 years and the remaining 40% on maturity with accumulated bonus. The policy terms and payback schemes will vary from company to company.