Beshak Insurance dictionary

search icon
Return of Premium Option
Term Life Insurance
  1. Usually there is no survival benefit in a term insurance policy.
  2. Which means if the policy term ends and the person covered survives the policy term, the term Insurance premiums are not refundable
  3. But there is a Return of Premium option available. Here in case the person covered survives the policy term, the insurer pays the aggregate of net premiums paid on the policy.
  4. The aggregate of all net premiums paid becomes the survival benefit in the Return of Premium Option of Term Insurance.

Discover the best tips for insurance every week!

Beshak is not regulated by the Insurance Regulatory and Development Authority of India (IRDAI) and does not have any alliance or association with any Insurance business.
© Copyright 2022 Beshak Solutions Pvt. Ltd. All Rights Reserved.

Disclaimer: The content on the website is purely for information purposes for the public at large, and does not constitute personal financial advice for a specific individual reader.
If you are reading this, it means you love reading the fine print. Why not get paid for what you love doing - Join us by writing to now 🙂