Friday 27 July 2012

Return of premium (ROP) plan


Return of premium (ROP) plan

Some insurance companies also offer variants of term insurance plans in the form of return of premium plans. If the life insured dies during the term of the plan, the insurance company pays the specified amount (sum insured) to the nominee/beneficiary. If the life insured survives the entire policy tenure then on maturity the insurance company returns part of the premium, or the entire premium, to the life insured according to the terms of the policy.

In another variant of term insurance plans, some companies also pay some interest along with the premium on the maturity of the plan if the life insured survives until maturity. 



Anand Khemka
+91-9910936925
+91-8287041341

No comments:

Post a Comment

Note: only a member of this blog may post a comment.