Connecticut Term Life Insurance

Guaranteed Level Term

Return Of Premium Term

Although there are other variations  these are the two most popular forms of Term Life Insurance.

Guaranteed Level Term Insurance

Return of Premium (ROP) Term Insurance

This is the most common type of term life insurance. It is popular because of it's low cost and long term coverage it provides. These types of life insurance policies have premiums that are guaranteed to remain level for a period of 10, 15, 20, 30 years. Other durations exist. The durations that are available to you are dependant on your age.

It covers you for a specified term (period of time). If you die within the term, your beneficiary receives the stated death benefit of the policy.

The above chart shows durations of the most popular term life insurance products.Other durations available. All options below may not be available and may vary by age.

Return of Premium (ROP) Term Insurance

Imagine getting a money-back guarantee on your Term Life Insurance. Your family receives a lump sum of money if you die, but if you live the company returns all of your premiums! Now you can’t do that with your auto insurance or your homeowner’s policy.

Return of Premium Life Insurance is a modern term life insurance policy that provides both death benefit protection and a return of premium insurance feature. It’s simple to understand: If you keep your policy for the term period, at the end of that time whether 15, 20 or 30 years, the life insurance company that issued the insurance with the return of premium policy returns all of the premium that you paid for the life insurance. There also is some partial return of premium for policies canceled before the end of the term (depending on the year it’s canceled – the longer it’s kept , the higher the amount of the return.)

Return of Premium Insurance is aimed right at one of the greatest objections to traditional term life insurance: “I am probably not going to die, and my money will have been wasted." When you buy insurance with a return of premium option, you do not have to waste your money. Unlike regular term life insurance, Return of Premium term life insurance rewards you for living by offering a guaranteed return of your total cumulative premium paid on the policy during the level term period.

The Return of Premium feature causes premiums to be higher than those of guaranteed level term insurance.

The above chart shows durations of the most popular Return of Premium term life insurance products.Other durations available. All options below may not be available and may vary by age.

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