Return of Premium Insurance

Now this is clever idea, something called return of permium insurance. It's a way of dealing with the most common complaint about term life insurance: that sure, you get your insurance, but at the end of it that's all you've got. You've spent all that cash and it's gone.

The essential idea is that the end of the term of the life insurance, all the premiums you have paid are returned to you: and no, this isn't little fly by night companies, this is all from the giants of the industry. So if, during the term, you do pop your clogs, you get the insurance payout (or your heirs do rather) but you also get your money back.

Actually, the way to think of this is like a hybrid between pure term insurance and with profits life insurance. And the price is going to be somewhere between the two as well. It just depends what you want....all three give you life insurance, the last type, with profits, acts as a method of saving as well, and the return of premium type means that you get the insurance but you also get your money back (but with no interest: that's what actually pays for the insurance).