Return of Premium Term Life Pays – No Matter What!
If you'd like to have term life insurance in place to provide for beneficiaries yet you're confident you'll outlive the life insurance policy, you now have an option for "return of premium" (ROP) term life insurance. Under this type of life insurance policy, if no death benefit has been paid by the end of your life insurance term, you receive all your premiums back.
With a traditional term insurance policy, you buy a coverage term, such as 15, 20 or 30 years, and pay a fixed annual price. If you don't die within that term, your contract ends and you receive nothing, having paid for the "risk" that you might have died.
An ROP term life insurance policy gives you 100 percent of your premium money back (it's tax-free) at the end of your term if no death benefit has been paid. Or put another way, you can rent your insurance or you can buy it!
"An ROP term life insurance policy gives you 100 percent of your
premium money back (it's tax-free)..."
An ROP term life insurance policy will cost more than a comparable traditional term life insurance policy. The premium is based on the insured's age, health status, height, weight and smoker-non-smoker status. The longer the term, the lower the cost for the ROP Term Rider.
The likely customer for ROP term life insurance is a person who has the confidence he'll outlive his life insurance policy. Or it could be the person who can't get over the feeling that term life insurance is a "waste of money" if the death benefit isn't paid out. ROP term life insurance provides a way to hedge your bets no matter what happen.
Talk to a PIPAC LIFE Brokerage representative about the Return of Premium Term Life Options. You can reach PIPAC LIFE at 866-452-3670 or email Jack at jack@pipaclife.com We make LIFE easy!
The Sales Corner
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Sales Idea: ROP Term & Key Person
We all know of small businesses that have a key employee. If this key employee were to die, become disabled or quit it would create a financial hardship on the business. Many times it is a key employee who will be the successor to the business owner.
How do we keep the key employee if he were to die or become disabled? How would we find the funds to replace this key employee? MORE...
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