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New life insurance policies offer refunds.
One of the hottest life insurance products on the market right now is Return of Premium (ROP). If you insure your key employees or buy-sell agreements, you might want to consider this option.
ROP is an attractive alternative to traditional forms of life insurance, says Byron Udell, president and CEO of AccuQuote.com, a life insurance brokerage firm in Wheeling, Illinois. Historically, you could choose from two types of life insurance: term, which does not build cash value; and permanent, which includes a variety of products that develop some cash value. Premiums on permanent insurance can range from five to 10 times the premiums on term.
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