It’s a return of premium term life insurance now, this is a policy, that is, it’s a term policy, and it lasts for 10, 20, and 30 years, and it is a return of premium, so its normal term covers everything but at the end of the term, you get all of your money back.
The premiums that you pay into it, whether they’re monthly, whether you pay them quarterly, every six months, or every year, you get all of the money back at the end of the term, so let’s say, for example, it’s a 30-year Life insurance term Prescott AZ, then that policy at the end of 30 years as long as it’s a return of premium, they send you a check for every penny that you’ve ever paid into the policy, so a lot of people view it as a win-win.
It’s always a little morbid with life insurance, but it’s basically a win-win because during that policy, you’re covered for a large amount, let’s say 300,000 or 400,000 dollars. You survive the term which is what everyone’s rooting for at the end of the term; they send you a check for every penny you’ve ever paid into it, so term with return of premium does cost more than without the return of premium.
That’s common sense, and it’s important to understand that you do get every single penny back, so it’s a wonderful thing if you can afford it. It is a fantastic way to go.
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.