What is Payback Life Insurance?

If you need term life insurance for a temporary period of time, you may be wondering what happens if you outlive the duration of your coverage.

Can you get your premiums back?

Actually, there are term life policies with payback of premiums if you outlive the term (duration) of your policy.

However, these plans charge you a higher annual premium than regular term insurance policies which do not return your premiums.

With payback term insurance you pay more upfront, betting that you will be alive when your policy expires, so you get back almost all of the premiums you paid over the life of your insurance policy

Learn more about term life insurance with payback of premiums.