Term with return of premium

It offers a level premium payment term of 20 or 30 years, whichever you choose. And if you outlive that level premium payment period, you’ll get all the policy premiums you’ve paid back at the end of the term.

A return of premium (ROP) life insurance policy means that when the term of your life insurance policy is up and you’re still alive, you get the amount you put in as premiums returned to you, tax free. If you paid $50 a month for a 10-year term, you get $6,000 back. This can either be sold as a return of premium policy or as a rider on a traditional term life insurance policy.