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Refundable Life Insurance has decided to concentrate on two major types of
Life Insurance policies. Although we offer all types of insurance, we
believe these are the best options. In order to provide the best rates to
our customers we concentrate on knowing these types of policies inside and out.
- Term Life Insurance with Return of
Premium
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This is what is referred to as refundable life insurance. With this
type of policy you are refunded all premiums at the end of the term.
This is a relatively new product to the insurance market (Return of
Premium, ROP). Many insurance companies still do not offer this as an
option.
Our belief is that this type of insurance is the best option for most
clients. The combination of the the guaranteed investment while
maintaining a large amount of life insurance coverage (compared to a
traditional term policy) usually make this the best option. We will
always quote both rates (ROP and non-ROP) to provide all information to our
customers so they can make a logical decision.
- Traditional Term Life Insurance
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Traditional
term life insurance provides coverage for a specific period of time, and is
therefore temporary. A typical policy term 5, 10, 15, 20, 25 and even 30
years. The premium is usually guaranteed to stay level during that
term period.
In the past
20 years this has been the most popular form of insurance.
Term life
policies are usually renewable at the option of the policy holder until the
insured reaches age 95. However, premium charges will usually increase each
year after the end of the initial guaranteed term period.
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