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Return of premium term life insurance- what a mouthful!

This is a new kind of policy that lots of people are raving about over the traditional term life insurance.

Why?

Normal term life insurance has you paying into a policy knowing that unless you pass on, you and your family will never see that money again.

Return of premium term life insurance is a little different- at the end of your term you get all your money back!

Why is this a big deal? Here are some numbers to help:

Normal term life insurance: $500 a year X 20 years = $10,000 paid to your provider.

At the end of the term you get back $0 from what you paid.

Return of premium term life insurance: $500 a year X 20 years = $10,000 paid to your provider.

At the end of the term you get back ALL $10,000 that you paid!

I know your next question- "How can the insurance company make money on me that way?"

The answer is so simple its right under your nose- they invest it!

Just like all insurance policies work, the provider invests the money you pay and earns a good rate of return from the money you've essentially lent them.

Bottom line- everybody wins! The provider makes money by investing the money you've paid in to your policy. You win because you get back all of the money you paid at the end of the term.

Even though return of premium term life insurance policies may be slightly more expensive than traditional term policies, you can see why they're so favorable to you!

By: Justin Stowe

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