Return of Premium (ROP) term life insurance combines the advantages of a traditional term policy such as affordable guaranteed level premium periods with a return of premium feature.
How it works: If you keep your policy for the desired term period (15, 20 or 30 years) the insurance company will return 100% of the premiums paid. Some of these policies also offer partial refunds or guaranteed cash values which increase annually until the term period is up for early surrenders.
Madison Brokerage serves as a partner to independent agents, Certified Financial Planners, wealth managers, Fee Only Planners, CPAs and attorneys.