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Products / Life Insurance / Return of Premium Term

Why ROP term life insurance?

If you're the type of person who doesn't like to pay for something you might not need, then return of premium term life insurance could be right for you.

Path Protector Plus® Return of Premium Term Life Insurance

Illinois Mutual’s Return of Premium Term is available for death benefits of $50,000 to $500,000 and initial terms of 20 years, 30 years or To Age 65. Issue ages are 18 to 60; however, term length availability will vary by age and tobacco use. 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 you as an endowment benefit.

After the initial term period, this benefit returns policy premiums excluding additional premiums paid for riders, rated policies, policy fees, and modal administrative fees. The endowment benefit will be reduced by any outstanding loans or liens, including paid Accelerated Death Benefits, and accrued interest.

How ROP works

Janelle, 28, is the sole wage earner for herself and her daughter, who is 4. Janelle is a rising young professional who needs to be cautious with her spending, but likes to take advantage of a good value when she sees it. Her chief concern is to acquire coverage so her daughter would be protected financially through her college years if Janelle was not around to provide for her.

Solution:

Janelle can acquire a 20-year Path Protector Plus® Return of Premium Term Life policy with a $250,000 death benefit to help her daughter with future college costs if she were to die prematurely for a monthly premium of $42.271. She appreciates knowing that if the death benefit is never paid, she can receive her returnable premiums back as an endowment benefit after the initial term period to help pay for whatever needs she has at that time.