Term Insurance Plan With Return Of Premium. How term life and return of premium riders work. It returns the premium paid if the policyholder survives the policy term.
However, the accrued benefit after policy maturity is the benefit that it offers. Most insurance companies offer a range of optional riders that the insurance buyers can purchase. As the name suggests, you get back all of the premium paid in case you survive till the end of policy period.
However, you do get your premiums back when your term expires, so that.
Moreover, there are different types of term plan policies that cater to distinctive needs. In case of whole life insurance plan, the advantage is the stability and the fixed rate of premiums added with the coverage for a lifetime. Beneficial would buy the term plan and invest the difference amount elsewhere which offers a better return and lower fees. As the name suggests, you get back all of the premium paid in case you survive till the end of policy period.