Return of Premium Life Insurance

Return of Premium Life Insurance provides the owner of a life insurance policy the ability to get all their money back at the end of the policy's term.

For example, if you owned a return of premium life insurance policy that had a 30 year term rate guarantee, at the end of the 30 years if the insured person was still alive, you would receive all the money back that you paid over the 30 years.  Get a Quote.

What are the Advantages?

If you are in average to excellent health, a return of premium life insurance policy is only a little bit more than a term insurance policy that has no money back provisions.  In many cases the tax free* rate of return on the additional premium approaches 8% or 9%!

*If the premiums are paid with after tax dollars then the money back you receive after your term ends is tax free.

What are the Disadvantages?

Return of Premium Life Insurance Plans cost more.  With a typical no money back life insurance plan you could buy more insurance for the same price, or save money, by buying a plan where the insurance company keeps all your money if you are still alive at the end of your term,

Other Key Factors

The rate of return you receive on the extra money you pay is higher if you are younger and/or in good health.  Also, when you select a return of premium life insurance plan that has a term of 30 years, your return is higher than if you picked a 15 or 20 year term.

The best way to find out if a Return of Premium policy might be for you is to get a quote and compare the prices.  You can also give a call, to us at 440-322-7667 and get your questions answered immediately.