Term Life Insurance

Definitions

Return of premium rider

A policy add-on that returns premium paid if the insured outlives the term of the policy.

For example: If a 10-year term life policy is purchased for $50 per month, and the insured outlives that time period, with this rider, the policyholder would have up to $6000 in premium returned. The cost of this add-on is not returned to the policyholder.

Back to Definitions

Related articles

How much insurance do you need?

I don't know how much I need

Helpful Resources

Need more info? Visit our Life Insurance Learning Center