I'm inquiring about Life insurance to cover me in case of death for the kids. I'm doing a 500,000 for 30 years. But there is a plan called return of premiums. That at the end of 30 years if I don't pass away, the total of my premiums would be returned to me Tax Free total of 13,700 in 30 years.

I have never heard of this before and just not sure. I have picked a plan that is covertable so that if I want to do another policy at the end of 30 years I won't need a health exam.

Does anyone know about these types of policies. It's through Accuquote. Thanks

Seems to me that 13,700 plus interest in 30 years would be a lot more money. They must be profiting on the interest & just giving you back the initial money. I don't know - I'm not great w/ health insurance. Isn't term supposed to be the best deal?

That's just a fancy term for whole life insurance, which generally isn't recommended. Unless the premiums are EXACTLY the same as term insurance (or lower), I'd keep shopping around. You are better off investing your money some other way. Remember, the odds you you staying with the same life insurance policy for the next 30 years is VERY low.

How old will you be in 30 years? A 30-yr flat rate insurance premium seems excessive. You'll end up paying way too much for your premiums when you're young and you need them to be low. Will you really have young children in your life for the next 30 years? Hopefully, in 30 years you and your hubby will be in a much better financial position and you won't need life insurance at all.

I've always gone with a 10-yr flat rate. That way I'm not paying an extra premium price to cover the difference in rate when I jump to another age bracket. Now that we adopted DD, I made a point to buy an additional 10-yr flat term life insurance policy before I hit the hazardous-5-0 age bracket. Once you get 50, the rates shoot way up.

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