Term Life Insurance with Return of Premium

 Term Life Insurance is an insurance policy that is required to return your premiums at the end of the term,  called a Return of Premium Term Life Insurance.

Since it is a Term Policy – it lasts for 10, 20 or 30 years – and it also has a return of premium.  So, it’s a normal Term Policy which covers everything, yet at the end of the term, you get all of your money back!  That is, all the premiums that you pay into it, whether they’re monthly, quarterly, half-yearly, or yearly.  You will get that entire amount back at the end of the term.

For instance, let’s say that you have a 30-year life insurance term. Now, the policy providers at the end of those 30 years, as long as it’s a return of premium term, are bound to send you a check for every penny that you’ve paid into the policy. A lot of people view it as a win/win, even though life insurance is always a little morbid.

Why is it a win-win situation?  Well, let’s say that during your Return of Premium Term Life Insurance Policy, you’re covered for a large amount – let’s assume somewhere around  $300,000 or $400,000. And then, you survive the term, which is what everyone’s rooting for when they opt for such a policy. Now, the insurance company has to send you a check for all the premiums that you paid throughout the term!

Although Term with Return of Premium costs more than life insurance policies without the return of premium, you are going to get all your money back at the end of the term. Hence, it’s a wonderful policy, and if you can afford it, you should definitely go for it!

If you are located in the Cottonwood, Sedona, Flagstaff or Prescott area and are looking for more information on affordable Life Insurance please don’t hesitate to contact us.

Use the links below or call us directly at – (928) 323-0933.