10 Year Term Insurance Return of Premium

Are you considering a 10 year term policy with return of premium? That's a smart idea because statistics show that there is a 99% chance that you'll outlive a ten year term policy.

We think that the extra premium that you'll pay for a return of premium rider (yes it costs a bit more than just straight term), is a good investment.

Here's why:

Let's say you purchase a $500,000 10 Year Level Term Policy with a return of premium rider. We'll assume it will cost $83.00 per month. At the end of 10 years, if you are still living (remember there's a 99% chance that you will), then the life insurance company will send you a check for $9,960, and it’s tax free.

Essentially you will have gotten your life insurance coverage for free, and you'll have a chunk of money that you can use to buy another life insurance policy, if that's what you choose to do. Many people will use that money to buy a fully paid up policy and then they'll never have to worry about another life insurance premium for as long as they live.

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