Article: Term Life Insurance That May Pay Back Your Premiums
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Term Life Insurance That May Pay Back Your Premiums
"Would you like to buy term life insurance that pays back the premiums you paid over the life of the policy?
Many people would love that deal. Perhaps they can?t afford permanent life insurance with its investment component, or they hate ?wasting? their premium dollars on term insurance for which they?ll likely never collect any death benefits because most don?t keep it late in life because it becomes so expensive.
In recent years, insurance companies have promoted a concept called return-of-premium term life insurance, which pays back in a lump sum all the premium dollars insureds pay into their policy as long as they keep the policy for its full term. It sounds like a good deal, but some financial planners and insurance experts express caution.
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