The Benefit of purchasing a return of Premium Term Life Insurance policy is that at the end of the coverage period that you selected, you can choose to get a lump sum payment on the base premium amount you have paid out.
Basically, if you outlive the duration of your term life policy, you'll get back most of the premiums you paid for your life insurance.
You can use the money as you choose, supplement your income at retirement, send your children to college, pay for personal expenses or for something else you would like.
So, if you outlive your return premium term life insurance policy period, you end up with more money in your pocket, paying a lot less for the coverage you didn't end up using.
Basically, if you outlive the duration of your term life policy, you'll get back most of the premiums you paid for your life insurance.
You can use the money as you choose, supplement your income at retirement, send your children to college, pay for personal expenses or for something else you would like.
So, if you outlive your return premium term life insurance policy period, you end up with more money in your pocket, paying a lot less for the coverage you didn't end up using.
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