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Return of Premium
A New Alternative to term life insurance
If you like the idea of low cost term life insurance but dislike not having anything to show for it at the end of the term, there's now an alternative available. It's called "Return of Premium" term policy. It's a little more expensive than a traditional term policy but far less expensive a whole life policy.
Here's how it works: You choose a term length of 15,20 or 30 years. At the end of the term, the insurance company will refund you 100 percent of the premiums paid into the policy.
As an example, if your policy was a 20-year term at $1,500 per year, at the end of year 20, you would receive a refund equal to $30,000!
Be sure to discuss the option with your agent to find the right policy for you.
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