Life insurance?

  • by Mariam
  • Oct 13,2017
  • 9 answers

Life insurance?


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Insurance Answers (9)

mbrcatz 4 hours ago

Yes, this is called "return of premium term". You usually have to pay for it the ENTIRE 30 years to get your premiums back; they keep the interest.
If you run the numbers, you'll see that it's not a very good deal, unless you die pretty early into the process.

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Jay Findling 17 hours ago

Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person.

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Casey Y 3 days ago

Return of premium term life. You pay extra to get back what you paid in premium, but its significantly more expensive than standard term.
Think of standard term life like your car insurance, if you don't have an accident during the policy period, they keep your money.

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StephenWeinstein 3 days ago

Something where you put in money and you get back all the money you put in, plus interest, is called a savings account. This is not a type of insurance. It is a type of bank account. You can get one at almost any bank.

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anonimitie 3 days ago

No. Whole life insurance accumulates a cash value but, is a poor investment. I much prefer term insurance.
After Comment:
I stand corrected.

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Fred3663 3 days ago

An endowment policy is a life insurance contract designed to pay a lump sum after a specific term

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Steve D 3 days ago

No - you are never going to get all the premiums plus earnings back (how would the insurance company make money?). While some insurance policies do have cash value, that is never going to be 100% of your premiums. You have two options - insure your life against an accident and pay the appropriate value of that protection or invest the money yourself and hope you do not die before the time period is up.

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hamel5 3 days ago

You're describing "whole life" insurance . There are also term life policies, which are less expensive, but have no value at the end of their coverage.

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Insurance Pickle.com 3 days ago

You could do a return of premium term in which you get all of your premiums back. There are also cash value policies that could do what you describe.

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