Return of Premium Term Life Insurance
If you're the type of person who doesn't like to pay for something you might not need, then return of premium term life insurance could be right for you.
Mia, age 25, is a recent college grad and newlywed.
As she begins her new life with her husband, she knows she should consider purchasing life insurance.
However, because of her student loan debt, she is hesitant to spend too much of her limited funds on something she may never use.
With Illinois Mutual, Mia can purchase a Return of Premium Term life insurance policy for less than $2 per month more than a traditional term life policy for the same term period.
Applies to this example; premium differences in other cases may vary.
This way, if Mia never uses the life coverage, she can receive her eligible premiums back at the end of the term period!
Here is the breakdown:
A 25-year-old female, preferred non-tobacco underwriting class, wanting $250,000 of Term Life death benefit coverage To Age 65 would pay $25.52 per month and receive $0 back at the end of the term.
The same person purchasing an ROP Term Life policy with the same death benefit would pay $27.07 per month and receive $10,600 back at end of term.*
*May vary by state. For illustration purposes only. Subject to underwriting. Example assumes no riders, policy loans/liens, Accelerated Death Benefits and monthly EFT is the selected premium mode. Returnable premium does not include policy fees.
That is a difference of only $1.55 per month more to receive over $10,000 back at the end of the term!
Contact your agent or go to www.IllinoisMutual.com/ROPTerm to learn more!