YOUR LIFE IS OUR BUSINESS

Return Of Premium is a type of term life insurance policy. Premiums are paid for a specified term period (10, 20, 30 years). If death does not occur during the life of the contract, and all premiums are paid in a timely fashion, the owner of the policy will receive all premiums paid over the life of the contract. If the policy is cancelled at any time, no money is refunded. While this was the original concept, many current policies do allow prorated refunds at some point during the life of the policy.

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