Return of premium life insurance is a type of term life insurance policy that returns the premiums paid for coverage if the insured party survives the policy's term. For example, a $1,000,000 policy bought for $10,000 a year over a 30 year period would result in $300,000 being refunded to the surviving policyholder at the end of the 30 years.
Read more about Return Of Premium Life Insurance: Use As An Investment, Use in Divorce
Famous quotes containing the words return, premium, life and/or insurance:
“Sir Francis, Sir Francis, Sir Francis is come;”
—Unknown. Upon Sir Francis Drake’s Return from His Voyage about the World, and the Queen’s Meeting Him (l. 1)
“In taking out an insurance policy one pays for it in dollars and cents, always at liberty to discontinue payments. If, however, woman’s premium is a husband, she pays for it with her name, her privacy, her self-respect, her very life, “until death doth part.””
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“Parenting is the one area of my life where I can feel incompetent, out of control and like a total failure all of the time.”
—Attorney Father. As quoted in Reviving Ophelia, by Mary Pipher, ch. 4 (1994)
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An insurance man’s shirt on its morning run.”
—Gwendolyn Brooks (b. 1917)