Return Of Premium
Now Available For Term Life Insurance Policies
Policies allow for virtually free insurance!
Return of premium term life insurance is a guarantee of a return of all premiums
you paid towards the policy once the policy term has expired
assuming you have outlived the policy term.
Return of Premium term life insurance is purchased because it is the most
cash efficient
method of obtaining the amount of coverage you feel is needed to
protect your family obligations, like your mortgage, raising
your children, savings for college funds, etc.
Even if the
return of premium policy is cancelled prior to the expiration
of the policy term, a portion of the premium may be refunded.
Getting a refund of all the premiums!
Return of Premium term life insurance bridges the gap between
low-cost term insurance and permanent insurance.
Getting a refund of all the premiums you paid gives you the best
of both worlds. You have the assurance that your family is
protected if something happens to you, and you minimize your
risk of paying for coverage you may no longer need.
Products typically feature: level-death benefit term plans with
fully guaranteed level premiums for the first 15, 20 or 30
years, with coverage expiring at age 95.
Some companies offer premium rate bands such as: $100,000 –
$149,999; $150,000 – $249,999; $250,000 – $499,999; and $500,000
and higher.
Costs usually range approximately 30% higher than the most
competitive tem life insurance products available. Therefore,
the 30% increase is minimal to the young
applicant due to the already low term life insurance premiums
found at younger ages. Policy
forms may not be available in all states. Applicants are subject
to normal underwriting procedures established by the insuring
company.
Return of premium plans also allow for other valuable riders not usually
found available in the traditional term life insurance policy
forms.
For more information from top rated companies follow the
following links:
Overview
HERE!
Return of Premium from AIG HERE!
Return of Premium
from
Chase
HERE!
Return of Premium from
Fidelity & Guaranty HERE!
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