LIC Money Back Plan

Bad idea.

Insurance companies are not investment companies.

Never mix insurance and investments. Suboptimal returns and suboptimal coverage. Worst of both worlds.

Sabse bada fraud scheme hai

Insurance should never be used as an investment avenue. Guy a plain insurance policy and Start an SIP with the balance premium you'd have paid for money back.

Go for Term Insurance instead, it is the true insurance, pay far less premium.
And for Investments start SIP in some good MFs.

This way you separate Investment and Insurance :)

Insurance and investment are different . Why are you even interested in this thing ? Take pure Term insurance and invest the money in MF even tax saver MF will help you beat these shit products from money back and endowment policies.
Never treat insurance as investment , would advice to look at articles on websites freefincal by prof pathhu and Basunivesh blogs you will have clear idea of these policies and how they miss sell

Never. It is just offered by license agent for taking hafety commission. Please go for term insurance for proper life insurance

No.