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The Return of Premium Life Insurance is a policy that refunds all of your premiums if you are still alive at the end of the policy period.

Return of premium (ROP) life insurance is life insurance that gives full benefits of the policy to beneficiaries If an individual dies during the policy's term, or if the individual is still alive it refunds all premiums at the end of the policy period.

The main benefits:

  • coverage with the ability to get a refund of your premiums
  • Tax-free insurance with death benefit coverage

The main drawbacks:

  • It costs more than other traditional term life insurance
  • Not much life insurance to cover your needs at less cost.
  • Terminate the policy or failing to make payments before the term expires, leads to losing the refund

Thus, the correct answer is - The Return of Premium Life Insurance is a policy that refunds all of your premiums if you are still alive at the end of the policy period.

Learn more about the return of life insurance policy:

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