Money Back Life Insurance

Is there life insurance that gives you your money back?

Yes, it's called "Return of Premium" term life insurance.

With return of premium term life you pay your premiums monthly or annually for the entire duration of your term policy, which is usually for a period of 10, 15, 20 or 30 years.

If you outlive the term of your policy, you get back almost all of the premiums paid for your life insurance coverage.

The insurance company keeps some of the premiums to cover their costs, and they generate a profit by having invested the premiums you paid them over the years of your term life policy.

Although return premium term life insurance charges higher premiums than regular term life policies, you do get back most of your money if you live beyond the term of your life insurance, so it can cost you a lot less than regular term life insurance.