ROP Term Life
ROP Term is a newly introduced term life insurance product that provides a death benefit protection as well as a return of premium feature. The product is revolutionary due to the fact that it is a bridge between low-cost term insurance and permanent insurance.
Return-Of-Premium (ROP Term) is aimed right at one of the greatest consumer objections to regular term life insurance: “I’m probably not going to die; my money will have been wasted.” With ROP term you do not have to waste your money. Unlike regular term insurance, ROP term rewards you for living by offering a guaranteed return of your total cumulative premium paid on the policy during the level term period,not including substandard and riding charges, if any, will be paid to the policy owner at the end of the term period if the policy is then in force.
Example: Male, 35 preferred plus, 500K 30 year term:
Annual Premium=$810, Return of Premium after 30 years=$24,300
($810 X 30yr=$24,300) Income Tax Free, because the premiums you paid is after tax dollars.