By selecting Return of Premium, all
of your life insurance premiums are returned to you at the end of
the life insurance term. So you can think of it as free insurance,
because you are guaranteed all of your money back at the end of the
term.
How is this different from a Whole
Life or Universal Life policy?
Whole Life or more recently Universal
Life is a life insurance policy that builds a cash value for
retirement. You can also borrow against the cash value in times of need.
Both the Return of Premium policy and
the Universal Life policy make more sense in the long run than a
straight term policy.
Although the Universal Life policy
requires more premium, it will last for the rest of your life.
Therefore you have the coverage for when you need it, no
matter when you need it. Many people find that with a
straight term policy, the term ends when they are in their late
sixties or seventies, right when they are sickest and need the
coverage the most. With a Universal Life plan, you have the coverage
for life and the premiums never go up.
Also, as mentioedn above, it builds a
cash value. that you can borrow against in times of need, such
as in medical emergencies or for crucial home repairs, college
subsidies for your children, etc.
Click here for a quote
Questions?
Call
(949) 394-7676
William Lorenz
California Insurance License:
0D61899
