hottotrot1_usa
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Please read this:
http://en.wikipedia.org/wiki/Term_life_insurance
It says what I thought it would say. Term life insurance is basic life insurance and doesn't offer maturity benefits.
Whole life is the fancier product which costs more and offers maturity benefits. |
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Bharat
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Almost all private insurance companies of india offer term policy with return of premium, but charges are high as compared to pure term policy. I have checked some of the policies & fond that Your actual insurance premium is paid by the interest of the policy premiums & policy premiums are paid back to you. I calculated & found that interest benifit you get(in form of your insurance premium) is only 3%. Return of premium is just a strategy of the comnpanies to earn more profit on term policies.
My advice is to go for pure term policy as it cost less premium & all your money goes to premium only. |
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Mark S
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Simple answer- No there is no term policy with a maturity date. Save your money on return of premium, just do not get it. Why? Because when you do get it, you are not given any interest on it. That is a 0 % rate of return, all you get is your principal. You have given an interest free loan to the insurance company and they will return what you paid without any thanks given. RoP is the insurance company's way of messing with your mind, making you think you received something but you have not. Stick with level term insurance, make sure you can band your family onto a single policy and add child rider that covers both present and future kids. |
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Casey M
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Keeping with the return of premium theme, you might want to look at a calculator I found that can compare a regular term policy versus a return of premium policy. It shows the approximate rate of return for a return of premium policy (i.e. the return you would need to get by investing the difference in the price of the policies).
You can find it at http://www.quickquote.com/ropCalculator |
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James W
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[Please tell us what state you reside in when asking insurance questions]
I also believe you mean Return of Premium rider. Many companies now offer this, but its fairly expensive. |
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PJ
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Phoenix life insurance has a return of premium term policy. So the question you have to ask yourself is "is it worth it". Should you spend the extra money to get the premium back? Could you take the money that you would pay for the rider and invest it to do the same thing? Last I checked you would need to get a return of about 6.8% over 20 years to equal the same preimium payout. Most people will tell you that you can make much more then that if you invest. Problem is that there are no guarentees. With the term life with the rider there would be a guarentee.
Hope that helps... |
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reymop
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The terminology you're looking for is a term life policy with a return of premium rider. This rider would give you all the premium you have paid for the life of the term back to you when the term policy has run its course. Contact me by email if you want to know the company I work for that sells this. |
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aaron p
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It sounds like you are describing return of premium term. There is an increasing number of companies doing ROP. Remember when you are running the numbers comparing it to an outside investment program that the premium returned to you is income tax-free because it is your cost basis. So whether currently taxed or tax deferred, you should take that into consideration with your returns. |
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insuranceguytx
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Go meet with several agents and financial planners (expect to pay a fee) and develop a financial game plan for your life. Discuss your goals for your life.
Most term policies (97%) never pay a death benefit - the policyholder outlives the term. |
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