Term Life Return of Premium

Term Life Return of Premium
Term Life Insurance is used to cover your family’s financial protection needs during a specific time frame. Premiums are fixed and need to be paid within a specified time period, or the policy will be cancelled.
StateTrust Life and Annuities offers a term life with return of premium product called Sentinel.  This product offers coverage using level premiums for the duration of the policy.  The policy will not only provide for your family in case of an untimely death, but in addition, it will reimburse all the premiums paid at the end of the insured period; if the death of the insured has not created any outstanding claims on the policy.  The amount to be received at the end of the insured period is set, and does not depend on interest rates or capital market fluctuations. This policy is particularly recommended for people who have a significant need of protection for a specific period of time, since it maximizes the cost/protection relationship.  It is also a good means of protection for people who have invested all their assets in a new business that is still in the formative stages, where the death of a key participant could mean a substantial loss of resources or the total loss of invested capital.
Those who should consider a Term Life with Return of Premium product include:
  • Parents seeking to protect their families for a specific period of time.
  • Companies that require temporary benefits for key executives or employees.
  • Individuals who already have a life insurance policy, but wish to expand their coverage and enjoy greater cost-benefit efficiency.
  • Individuals who require a significant insured amount, but have a limited budget to purchase a life policy.
  • Individuals who need life insurance as collateral to a loan or mortgage.
  • Individuals who would like a lump sum returned upon the end of their policy.