July 4, 2008, Newsletter Issue #111: Tips on Return of Premium Life Insurance

Tip of the Week

Don’t want to pay on something you won’t use? Return of premium life insurance is probably for you. Read on for tips about why this type of policy is gaining in popularity.

Return of Premium Life Insurance (ROP term) Offers Extra Incentive to Save

With a ROP Term, the question isn’t simply, can I afford to commit a portion of my earnings to a long-term savings plan? Rather, it becomes can I afford not to protect my family financially if I am no longer living?ROP term offers extra incentive to save by:Rewarding policy holders that hold onto their policies (and their lives) throughout the term.Providing a savings vehicle that offers two significant benefits – financial security for the policy holder’s family in the event of death or return of premium to the policy holder.Policy holders cannot lose with return of premium insurance because it is an investment in his/her family and future. Your return of premium payment can be used for any purpose, particularly as life expectancy continues to climb, ROP term policy holders can look to them as funding for the dreams of their golden years. Feeling disheartened by the underlying implication of life insurance? Return of premium insurance can help you rethink the purpose of your payments. Knowing that they will be returned can help you think of the payments as contributions to your world travel fund instead.

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