What Is A Return Of Premium (ROP) Life Insurance?

Return of premium life insurance vs Traditional term life insurance_BIR

Return Of Premium Life Insurance, as the name suggests, is a type of term life insurance policy coverage that will return your premiums paid back if you survive the term nominated in the policy you signed up for. For example, if you purchased a $500,000 policy for $5,000 a year over a 30 year term, this will result in you being refunded back $150,000 at the end of the 30 year period. For the above reason, Return Of Premium Life Insurance costs significantly more than the traditional Term Life … [Read more...]