Return of Premium & Living Benefits

Why pay for a policy you might never use? With our return of premium and living benefits options, your coverage works for you whether you live through the term or need support during a health crisis. These features add value and flexibility, turning life insurance into an investment in your future.

Return of Premium Life Insurance

Return of premium (ROP) life insurance is a type of term policy that refunds all of your premiums at the end of the policy period if you are still alive. For example, if you were to pay $20,000 in premiums over a 30‑year term, the insurer would return the full $20,000 to you at the end of the term.

• Get your money back: You receive a full refund of premiums if you outlive the policy, essentially turning your coverage into a forced savings plan.
• Keep your protection: Your beneficiaries still receive the full death benefit if you pass away during the term.
• Higher cost: ROP policies cost more than traditional term life, so you need to balance the refund against higher premiums.
• Refund only if you keep paying: Cancelling early can reduce or eliminate your refund.

Example: A 35‑year‑old parent purchases a 20‑year ROP policy for roughly $50 per month. If they stay healthy and make all payments, they’ll receive back around $12,000 at the end of the 20‑year term. If they pass away during the term, their family still receives the full death benefit.

Living Benefits

Living benefits riders allow you to access part of your death benefit while you’re still alive if you face a serious illness or injury. Instead of only protecting your family after you’re gone, these riders provide a safety net during your lifetime.

• Cover medical expenses: Use part of your benefit to pay for treatments for conditions like cancer or heart disease.
• Replace lost income: Living benefits can act as a financial bridge if an illness or injury keeps you from working.
• Help with long‑term care: They can offset the high costs of assisted living or in‑home care.
• Peace of mind and flexibility: Knowing you can access funds when you need them provides emotional relief and financial flexibility.

Keep in mind that accessing living benefits will reduce your final death benefit and may increase your premiums. There can also be limits on how much you can withdraw and possible waiting periods.

Ready to Explore Your Options?

Whether you want a money‑back guarantee or the ability to tap into your coverage while you’re alive, we can design a plan that matches your goals. Our advisors will walk you through the pros and cons and help you decide if return of premium or living benefits riders are right for your family.