Friday, July 10, 2009

Term Life Insurance with a Savings Feature

In a recent post on term life insurance, we noted the advantages of this type of policy. It is a less expensive form of life insurance that permits a young couple to protect against the untimely death of the wage-earner. The negative aspect of term insurance is that it, in most instances, lacks a savings feature. When the term expires, the policy has no value.

There is a way to perhaps have your cake and eat it too. The product is a term life insurance policy with a rider that provides for a return of your premium payments at the end of the term. The insured has both the protection of the policy during the term and at the end of the term the savings in the form of the returned premiums.

Out of curiosity, we confirmed with an insurance agency that such a product does still exist.

3 comments:

Anonymous said...

Really? Such Term Life Insurance exist in the US? Nothing like this in Australia...

Adam said...

Few things always remain a fact and will never change any matter how forward man might progress and death being one of them. It is a bitter truth that we plan for years but are uncertain even about next moment and that is where wise people make their decisions. To save their families and loved ones from any unfortunate incidence they opt of life insurance policy. While being in this state term life insurance plicy might be the first project they all look up to.

Andi Anderson said...

Congratulations! This is the best thing, Thank you so much for taking the time to share this exciting information.
Hecken