Return of Premium Life Insurance

Is there such thing as life insurance that will give you back all of your money if you outlive the policy? Yes! Return of Premium Term Life does just that. You get a death benefit for the term and a return of premium feature.

You can look at it kind of like getting your insurance for free. Did you know that less than 1% of term life insurance policies actually pay a death benefit? That means that there is a pretty good chance that you will get your premiums back. The premiums are higher than a straight term life policy, but the benefits may outweigh the added premium.

So how does it work? Let's say you purchase a $250,000 20 year term life policy that costs $50 per month. If you are still living at the end of the 20 year term, you will receive a check back for all of the premiums that you paid into the policy. ($50 X 12 Months X 20 Years = $12,000), and it is tax free. You can use that check to buy a single premium whole life policy, or you can use it for whatever else you please.

So for just a little bit more premium each month, you can get a term life policy to protect your family and receive all your money back if you outlive the term. You'll have peace of mind knowing that your family is financially protected and you can look forward to getting a check in 10, 20, or 30 years, depending on the length of your term life policy.

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