What is Return of Premium Life Insurance (ROP) ?                     Return of Premium Life is term life insurance with the benefit of receiving a refund of the premiums paid during the life of the term.  Term life insurance is just like the name implies “term” it insures a term of your life. The term could be 5, 10, 15, 20 or even 30-years.                                                     The problem most people have with term is what happens at the end of the term, there is no cash value. This often causes people to think, “The chances are not likely I am going to die, so I threw my money away”.  Return of Premium Life Insurance (ROP) solves that problem.                    Return of Premium Life Insurance operates this way:  If you have a term policy, usually a 15, 20 or 30-year term with a ROP option,  at the end of the term you receive a 100% refund of the insurance premiums during the 15,20 or 30-year term.  Also during the term, depending on the policy, there is a build-up of cash value if you decide to terminate the policy early.  This cash value increases the longer you hold the policy.           For example, a 30-year old male, with preferred health can get a 30-year term policy for about $650 per year.  To determine the value of the policy at the end of 30-years you multiply the years of coverage times the premium, in this case the amount is $19,500.                                                           The cash value paid at the end of 30-years is tax free because the amount is equal to the premiums paid, so there is no capital gain.  Premiums are merely being returned at the end of the term.          For an online quote of Return of Premium term life click here, for a term quote without Return of Premium, click here.