Return of Premium Term is Here!
Best of Both Worlds
Path Protector® Return of Premium Term offers your clients the best of both worlds – life protection if they need it, and money back if they don’t. It also gives them the option to convert to a permanent policy without evidence of insurability through the initial term period, through the 20th policy year, or to age 70, whichever is earlier.
Here’s how it works:
Return of Premium Term (Form LRPT15) is available for face amounts of $25,000 to $250,000. If the policy is in force when the initial term period ends and its terms have been met, 100% of the Returnable Premium will be paid back to your client as a Return of Premium Endowment Benefit!
The maximum Returnable Premium amount is the sum of the annual premiums paid from the time your client first purchased the policy through the last day of the initial term period. Additional premiums paid for riders, supplemental benefits, and rated policies are not included in Returnable Premium calculations.*
The Return of Premium Endowment Benefit can be used for whatever your clients need – from providing cash to help your clients make the transition to retirement to helping with mortgage or business loan payoffs.
For more details, download form UP110 and order a supply of C5529 RPT Consumer Brochures from the Resource Library on the Agent Forum today!
*The amount payable as the Return of Premium Endowment Benefit will be reduced by any outstanding loans, any paid Accelerated Benefit, and any accrued interest.
Policy Form LRPT15, Term Endowment Life Insurance
Not available in AK, CA, DC, HI, MT or NY. Coverage and availability may vary in other states.
For policy costs and details of coverage, limitations, exclusions and terms, contact Illinois Mutual.