Return of premium life insurance is an excellent idea. It is more expensive, but if you live for the full term of the policy then all of your premiums are returned to you. This can be an excellent way to invest your money if you get a longer policy. The 30 year return of premium life insurance policy will promise you an okay rate of return on the difference in price between the regular term life insurance policy and the return of premium life insurance policy. You could invest it somewhere else, but anyone getting a term policy should at least consider getting a return of premium policy.
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August 28th, 2008 at 4:35 pm
Nice writing. You are on my RSS reader now so I can read more from you down the road.
Allen Taylor
September 2nd, 2008 at 8:09 am
Return premium term life insurance offers you the benefit of a self-funded investment plan, if you outlive your term life insurance policy.
That means, if you are alive, and have paid all premiums, when your policy term expires, you will receive your life insurance premiums back, less any policy fees.
Yes, the rates compared to level term are quite high, usually 50-60% higher, or more, than level term life insurance. But, if you pass away during the term of your policy, your beneficiary receives the face amount of life insurance coverage, usually free from any federal income tax.