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Songer Benefits, Inc. Blog

All You Ever Wanted to Know About Insurance

Return of Premium Life Insurance

Return of premium life insurance provides the same options like term insurance, but it offers a money-back guarantee. With the return of premium feature built into the policy, base premiums are returned at the end of the guaranteed term period provided the policy is in force, and the insured is still living. 

Features include: 

  • A guaranteed level death benefit
  • Guaranteed level premiums for the duration of the specified term period 
  • Convertible to an eligible permanent insurance product, through the policy anniversary following the insured 7-0th birthday without providing health information or proof of insurability. 
  • Expanded nonsmoker underwriting classes available. 
  • Avocation and occupation ratings are available on Standard Plus underwriting classification. 
  • The issue age is based on the applicant's actual age versus the nearest age. 

These policies are offered by a company rated A+ by A.M Best at Songer Benefits, Inc. In Beckley West Virginia.