PruLife Return of Premium Term offers insurance protection for your beneficiaries while providing you with a guaranteed return of out-of-pocket policy premiums.
Premiums remain the same for your choice of 15, 20, or 30 years.
If you continue coverage beyond the initial term, premiums will increase annually and are guaranteed to age 95.
Your out-of-pocket premiums are guaranteed to be returned to you at the end of the level premium period. Any loans taken and not paid back plus interest owed on loans will be subtracted from the amount returned to you. Note: any premiums waived under the Waiver of Premium will not be returned.
The policy can be converted to a permanent policy.
You must be alive at the end of the selected level premium period and the policy must still be in force at the end of the policy term you selected for you to receive the return of your premiums.
Terms, conditions and availability may vary by state.
This type of policy has two advantages, one is it can be converted to permanent and other is it easy to pay monthly.
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