Get IL Mutual Life Insurance Company 5215 2019-2024

Contact your Claims team at (800) 437-7355, ext. 752 or Claims@IllinoisMutual.com for more information.

A return of premium (ROP) life insurance rider is an optional add-on to a term life policy that, if you outlive the policy term, pays you all or some of the money you spent on policy payments.

Is return of premium life insurance worth it? For most people, return of premium life insurance is not worth its high cost. Instead, consider buying a traditional term policy and utilizing traditional investment and savings accounts to build your nest egg.

If there is a critical illness or disability claim, the policy pays out. When return of premium rider is added, an insurance provider pays back a portion or all of the premiums paid by the policyholder under certain circumstances.

A rider on an insurance policy is an added benefit that requires a small additional premium payment. The waiver of premium rider is a rider that pays all of a policyholder's life insurance premiums if that person becomes ill or disabled.

Return of Premium (ROP) Rider This rider allows for 100% return of premium paid, less any benefits received, from ages 65 to 67. Beginning with the 5th policy year, you may receive a portion of the premiums paid, less any benefits received. The policy ends after the return of premium is paid and may not be reinstated.