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.