Live Long and Prosper
New life insurance policies offer refunds.
One of the hottest life insurance products on the market rightnow is Return of Premium (ROP). If you insure your key employees orbuy-sell agreements, you might want to consider this option.
ROP is an attractive alternative to traditional forms of lifeinsurance, says Byron Udell, president and CEO of AccuQuote.com, alife insurance brokerage firm in Wheeling, Illinois. Historically,you could choose from two types of life insurance: term, which doesnot build cash value; and permanent, which includes a variety ofproducts that develop some cash value. Premiums on permanentinsurance can range from five to 10 times the premiums on term.
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