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New life insurance policies offer refunds.

This story appears in the December 2004 issue of Entrepreneur. Subscribe »

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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