With ROP term life you pay your premiums each year for the term (duration) of your policy. Most term life plans last for a term of 10, 15, 20 or 30 years. Your premiums are level, and the amount of life insurance provided by the policy remains level each year throughout the term of your coverage.
ROP life insurance returns most of the premiums you paid if you outlive the term of your policy. So, if you buy a 10 year term life policy and pay $300 each year for your coverage, and you are alive at the end of the 10 years, the insurance company will pay you back most of the $3,000 of premiums you paid them for your life insurance coverage.
However, ROP (Return of Premium) life insurance has much higher rates than regular term life insurance. So, you are gambling whether you will survive the 10 years or not.
Learn more about ROP Life Insurance and compare rates today.