Jan
21Return of Premium Term Life Refunds Money If You Live
Tagged Under : Life, Term Life
A Return of Premium (ROP) rider is an added benefit you can choose to put on some term life insurance policies. Normally you purchase a term policy to last for a specified amount of time. This could be 10, 20, or 30 years, or it could be some other length of time. Once the policy is over, if you have survived it, you just have an expired contract. You can count yourself lucky because you are still alive, but as far as your policy goes, you have nothing left from it.
ROP riders change this. It s a little bit more but will refund all of your premiums if you survive your policy. So if nothing was collected from the life insurance, and you kept your policy in force for the entire length, you get your money back! That is why Return of Premium Term Life Insurance has become more popular lately.
so you understand the advantages and disadvantages of the different types of policies.
We can help most people find no medical exam term life insurance too.
