Return of Premium Life Insurance Plans and What You Should Know about Them

Sofi Insurance Services

Los Angeles, CA, Feb. 12, 2014 (GLOBE NEWSWIRE) -- Los Angeles insurance agent at Sofi Insurance Services offers a wide range of insurance products and explains how return of premium life insurance plans can help individuals and families better plan for their futures. Life insurance can be one of the most important purchases a person makes. Life insurance products offer essential financial protection after the death of the covered person and ensure that the beneficiaries are able to continue to enjoy a financially secure lifestyle. A wide range of products are available, including standard term life insurance, mortgage life insurance, whole life insurance and universal life insurance.

Sofi Insurance Services' Los Angeles life insurance broker works with clients to help them identify their personal needs, their families' needs and their financial goals and provide them with products that meet their needs. Return of premium, or ROP, insurance is one type of term life insurance that offers flexibility, protection and convenience. This type of policy can be purchased for a specific term, and, just like with other term policies, if the covered individual dies during the term of the policy, the full benefit will be paid to the beneficiaries. However, if the covered individual outlives the policy, all the premium money that was paid into the policy will be paid back to the policy owner in the form of a non-taxable refund. Visit for more information about these plans.

ROP policies can be great choices for those who are confident that they will outlive their chosen policy, and are unwilling to pay for a product they hope to never use and who want greater control over their coverage options. As with any insurance product, there are pros and cons to ROP policies. ROP policies allow people to buy the policy that best meets their needs and can be great for short-term coverage needs. However, the premiums can be more costly than other types of coverage, and the refund may not be available to those who cancel their policies before the end of the term.

Sofi Insurance Services offer extensive support for those who are searching for insurance. They can provide individuals and families with easy-to-use, side-by-side comparison tools, quotes and simple application processes that help them find and buy the best coverage for their needs.

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Source:Sofi Insurance Services