Term with ROP (Refund Of Premium)
Type of coverage:
Premium and death benefit can be guaranteed for 15, 20, and
30 years, depending on policy.
Premiums will be refunded at the end the term.
Guaranteed for the selected period of time but will increase
Term insurance with ROP offers a high amount of insurance
for your premium.
All premiums paid are refunded at the end of the term,
However, A tax-free refund of all premiums will be paid at
the end of the term.
Guaranteed for the selected period of time but decreases or
Term insurance with ROP offers a high amount of death benefit
for a low premium.
It is a very popular policy due to the "Refund Of Premium"
It is often used to protect against untimely death (loss of
income) and to pay for expenses like raising children, education,
It is commonly viewed as a compromise between Universal Life*
and Term Life.
* Term with ROP cannot be compared with
Universal or Whole life insurance since no cash value is accumulated
and the death benefit is only temporary. However, term with
ROP will refund all premiums paid at the end of the term.