Rop Life Insurance

Written by Amy Hall
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ROP life insurance stands for Return of Premium term insurance. This type of life insurance policy most closely resembles term life insurance. The major difference is that with ROP insurance, the policyholder can get a refund for the total amount of money paid on premiums, if he or she is still alive at the end of the term.

This sounds like a great deal and it is. How many types of insurance will allow you to get back what you paid, if you did not end up using the benefits on your policy? Imagine getting back your car insurance premiums at the end of the year if you did not get into any accidents? It's practically unheard of in the world of insurance.

Combine this huge bonus with the fact that ROP insurance is essentially like term insurance, so your premiums will be relatively low. You do not have to sacrifice coverage in order to get great rates, as the nature of term insurance is that it is affordable, yet it provides future security to the policyholder's family. ROP life insurance can be taken out in 15, 20, or 30-year terms, whereas regular term insurance can start at five years and work up to 30 years.

ROP Life Insurance Is Booming

As you can also imagine, this type of life insurance policy is gaining attention, as consumers like the idea of a guaranteed refund. If you were to take out a ROP policy at age 25, for a term of 15 years, you could get your refund back at the ripe old age of 40. This is fantastic news for anyone who is in good shape health wise, and wants an affordable plan that will protect his or her family in the event of his or her death.

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