Mr Jha


Return of premium option on some Term Plans - does it mean that the premium that i pay will be returned. Is it better than a normal term plan

  • Asked By: Mr Jha
  • On: 9th Aug 2011 12:49 PM
  • Answered Within: 154 Days
MIC Expert


Term Plans are pure protection plans with no return of premium and hence they are the cheapest plans possible with the highest of life coverage. However, if you want a return of the premium, then obviously the premium amount will also increase considerably such that if you die within the policy term, then your nominee would get the Death Benefit. However, if you live, then you will get a return of all your premiums. This is a different and more expensive variant of Term Plans.

Some Term Plans with Return of Premiums would be:
1. Bajaj Allianz Term Care Plan
2. Aviva Life Shield Advantage
3. LifeGuard TROP from ICICI Prudential

  • Answered By: MIC Expert
  • On: 10th Jan 2012 4:26 PM
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