Return of Premium Life

Essentially a combination of term & whole. The concept is that the policy returns the premiums you have paid for coverage over that fixed-term period if coverage is never used. As with all insurance plans, with a return-of-premium policy, a death benefit is paid out should you pass away. However, if you live past the 30-year term, you receive every last cent of your money back. Therefore, no matter what happens–whether you die while covered or outlive the policy—money is distributed.