Life Insurance Basics
What is a life insurance return of premium rider?
A return of premium (ROP) rider on a life insurance policy returns all premiums paid if you outlive the policy term or surrender the policy after a specified period. ROP riders add cost to the policy but provide a built-in savings component. ROP riders are available on term and permanent life insurance policies.
Key Points
- ROP rider: returns all premiums paid if you outlive the term or surrender the policy
- Adds cost to the policy
- Provides a built-in savings component
- Available on term and permanent life insurance policies
- An independent agent can help you evaluate ROP riders