Term Insurance with Return of Premium?

What is term insurance with return of premiums?

Term insurance is a type of life insurance providing temporary coverage for up to 30 years.

A return of premium term insurance plan returns most of the premiums you paid for your policy, if you outlive the term of your coverage.

So, if you buy a 30 year ROP (return of premium) term life policy, and you are alive after the 30 year period, you'll get back most of the premiums you paid for your life insurance policy over the 30 years.

But, ROP term policies charge a higher premium each year than term life insurance that does not return your premiums.

So, you're betting that you'll outlive the term of your policy and get your money back; otherwise, you would buy the regular term life insurance and pay a lower premium each year for your coverage.