Term Insurance with Return of Premium

Term Insurance with Return of Premium (TROP) is a variant of standard term insurance that provides a unique benefit: the return of all premiums paid if the policyholder survives the term. This means that, unlike traditional term insurance where the policyholder receives no payout upon survival, TROP ensures that the premiums are not lost, making it a more attractive option for many.

Financial Protection: TROP provides financial security to the insured’s family in case of an untimely demise, ensuring that their financial needs are met. If the insured outlives the policy term, they receive a lump sum amount equal to the total premiums paid, effectively making it a savings tool with insurance coverage.

Higher Premiums: TROP policies typically have slightly higher premiums compared to regular term insurance due to the return of premium feature. However, the ability to recoup premiums at the end of the term can be appealing to individuals seeking both protection and savings.