“ It offers the protection of life insurance with the added bonus of a guaranteed return of premium” - Monica Thurman

Life insurance is an important investment in your future and your family's financial security. But what if you could have the protection of life insurance with the added bonus of a guaranteed return of your premium? That's where return of premium life insurance comes in.

Return of premium life insurance is a type of term life insurance policy that returns the premiums paid by the policyholder if they outlive the policy term. In other words, it's a policy that offers the protection of life insurance with the added peace of mind that comes with knowing you'll get your money back if you don't die during the policy term.

To better understand how return of premium life insurance works, let's take a look at a case study:

Meet John. John is a healthy 35-year-old man with a wife and two young children. He's been thinking about getting life insurance for a while now but isn't sure what type of policy to get. After speaking with a financial advisor, John decides to get a return of premium life insurance policy with a 20-year term and a death benefit of $500,000.

Over the course of the 20-year policy term, John pays a total of $20,000 in premiums. If John had chosen a regular term life insurance policy, he would have paid the premiums and if he outlived the policy term, he would have gotten nothing back. However, with the return of premium policy, if John outlives the 20-year term, he'll get all of his premiums back - $20,000 - tax-free.

Now, let's take a look at some statistics that support the benefits of return of premium life insurance:

• According to LIMRA, the life insurance research and consulting firm, return of premium life insurance policies are becoming more popular. In 2019, sales of return of premium policies increased by 7%.

• The National Association of Insurance Commissioners reports that the average term life insurance policyholder will outlive their policy by more than 11 years.

• According to a survey by Bankrate, 60% of Americans don't have enough savings to cover unexpected expenses like a car repair or medical bill. Return of premium life insurance can help provide a safety net for unexpected expenses if the policyholder outlives the policy term.

Return of premium life insurance may not be the best option for everyone, as it typically comes with a higher premium than regular term life insurance. However, for those who can afford the higher premiums and want the added peace of mind that comes with a guaranteed return of premium, it can be a valuable investment.

In conclusion, return of premium life insurance is a type of term life insurance policy that returns the premiums paid by the policyholder if they outlive the policy term. It offers the protection of life insurance with the added bonus of a guaranteed return of premium. While it may not be the best option for everyone, it's worth considering for those who want a safety net for unexpected expenses and the added peace of mind that comes with knowing they'll get their money back if they don't die during the policy term.