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 term, you have essentially no value earned in the policy and it becomes a wasted benefit. Unlike term life insurance, Return of Premium Life Insurance will return your total accumulated paid in premiums to you if you outlive the term, while keeping your face amount available to your designated beneficiaries in the event of your death during the term period.
Who needs Return of Premium Life Insurance?
Anyone who needs the value that a traditional term life policy provides in the event of their death and understands that, for a few dollars more a year, they can get every dime they ever paid into the policy back and sees that coverage as a valid insurance savings program. Those are the type of people who need this program. It is ideal for younger clients with young dependent children and even for wealthy clients who can afford to self insure as a savings/benefit program combination.
Please click on the link below to have a qualified, independent representative contact you to see if Return of Premium Life Insurance is right for you
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