Can I buy a plan that features return of premium after 6 or 10 years?
This feature is offered by some companies, however it will often increase the premium by 35 to 45%. Usually only a percentage of premium paid is refunded, less claims paid. In some policies, when return of premium is refunded, the policy ends. In other plans, the coverage continues. Most persons believe the return of premium is not a very cost effective option.
