Return of Premium Life Insurance

Life insurance can be costly, and while it’s a responsible choice for protecting loved ones, there’s simply no guarantee that the money you invest over the years will be needed. In fact, if you outlive a term life policy, you get nothing at all. Return of Premium life insurance may be the solution, offering exactly what it sounds like- the opportunity to get your entire premium returned- every cent. So while outliving your life insurance policy is a good thing, getting your money back when you do is even better. 

How Does Return of Premium Life Insurance Work?

With Return of Premium life insurance, you can quotes for a set time frame- typically 20 or 30 years and pay premiums monthly as you would with any standard policy. When the term comes to an end, you receive a full return of your base premium tax free. That means you get all the money you paid into your policy back and can use it anyway you see fit. Maybe you’d like to supplement your retirement savings or pay off some outstanding debts or financial obligations. The possibilities are endless. With most policies, premiums are guaranteed and set for the term of your policy. 

Develop Cash Value

In these uncertain times, it’s good to know you have options. With Return of Premium life insurance, your policy develops cash value over time. So if you find that after 10 or 20 years into a 30 year policy, you need financial support, you can cash out the policy early and still receive a prorated portion of your premium back. It’s security in knowing that if you really need it, financial help is available. 

Choosing the Right Policy

At United Life Group, we understand financial needs and goals change throughout the years and how the decisions you make now will have long lasting effects for years to come. With access to top providers, unlimited resources and the most up to date information, we’re ready to help you make the best choices for your family going forward. If you’d like to learn more about how a Return of Premium life insurance policy can provide security, give us a call, we’re looking forward to hearing from you. Check out these providers online!