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Now get your premiums back if you survive the term of your term life insurance!
American General now has a policy that promises to pay you even if you survive the complete tenure of your term life insurance. Therefore what it offers is the deat benefit for the duration of the selected term (e.g., 15, 20 or 30 years). It also promises to return the amount equal to the premiums that you have paid when the term ends and if you are still living and if you have kept the policy in force. Generally the cost for taking this policy would be higher than an ordinary term insurance.
Other factors like age, health, medical history etc continue to influence the premium amount. The company claims that the reason that not very many people opt for this is simply because they have really not heard of it. At most times, people are also looking for affordable policies that do not cause much drain on the pocket.
Read more on this on the American General Life website.
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