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Utilize return of premium: Return of premium products appeal to Gen X and Gen Y because at the end of the term, if a claim hasn't been paid, the premium is refunded.
If the cash value were to fall to $90,000 and the client passed away, the heirs would receive the $150,000 return of premium death benefit.
21 /PRNewswire-FirstCall/ -- ING has introduced return of premium term life insurance in New York state.
The employer's portion can be a return of premiums paid, the policy's cash surrender value at the date of death or the greater of the two.
The first thing to remember about using cash value life insurance as an investment vehicle is that although a return of premiums is permissible, canceling the policy and withdrawing the interest accrued is considered a full surrender and is subject to surrender charges.
Best notes that the acquisition provides Torchmark with the ability to expand its supplemental health business segment with a higher margin, return of premium product feature.
Return: The return of premium feature can provide a supplemental fund for retirement years should the client survive to receive it.
MINNEAPOLIS, March 14 /PRNewswire-FirstCall/ -- ING has introduced ING Return of Premium Term life insurance.