What is Return of Premium Life Insurance?
Return of Premium Life Insurance is a new version of term life insurance that provides both death benefit protection, as well as, a return of premium feature. What this means is that if you keep your policy for the entire term period, whether that be 10, 20 or even 30 years, the insurance company that issued your policy will return all of the premiums that you’ve paid into the policy to you once your term has completed. This “NEW” term life insurance gives the policyholder the enhanced benefit of a savings program in addition to the coverage that they need from the death benefit in the policy. This means your family will receive a lump-sum payment if you die , but if you outlive the term period, the company returns all of your money that you paid to them for the coverage over the entire term! Benefit of Return of Premium Life Insurance Return of Premium Life Insurance takes care of the biggest objection to traditional term insurance which is that if you do not die during the specified
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- What is the Return of Premium Life Insurance?
