If you want to get your premiums back on a life insurance policy you would pay extra for return-of-premium term life insurance.

Premiums are higher on return of premium term life compared to regular term insurance policies. With regular term life coverage if you outlive the duration of your policy, then the coverage expires and there is no payout or refund of premiums.

However, with a return of premium term policy, if you outlive the coverage term, the insurer refunds the premi...
Continue reading ...

Is there life insurance you can purchase that will pay you your money back when the policy ends?

Yes, it's called "return of premium", "cash back" or "money back" life insurance.

It's term life insurance that returns all of the paid premiums back to the owner of the life insurance policy should the insured person still be alive when the coverage period (term) expires.

So, if you buy a ten year return of premium term life insurance policy and you are alive after the ten year term ends, you would ...
Continue reading ...

What is life insurance with premium return?

It's a type of life insurance policy that provides term life insurance for a set period of time, usually up to 30 years.

If you outlive the term (duration) of your term life policy, the insurance company returns almost all of the premiums you paid. So, you get most of your money back with this type of life insurance plan if you are alive when the term life policy expires.

However, return premium life insurance costs more than regular term life insuranc...
Continue reading ...