The Return-of-Premium (ROP) Option is a benefit in certain life insurance policies that guarantees you’ll receive back the premiums you’ve paid if you don’t pass away during the term. This feature makes ROP policies attractive to those who want life insurance coverage while also ensuring they won’t lose their investment. Knowing about this option can help you feel more secure in your decision to purchase a policy.
However, it’s important to understand that policies with the ROP feature typically come with higher premiums compared to standard term policies. This means you’re paying a bit more for the added benefit of getting your premiums back.