NLIC.org

Kimberly Said:

What is return of premium term life insurance? Is it similar to regular term insurance?

We Answered:

Return of Premium term is simply level term that refunds one's premium at the end of the term if the policy hasn't paid a death benefit. In order to offer this, the company has to charge a higher premium to underwrite the refund. It is likely that one would be better off buying a normal level term and investing the difference, but with interest rates being what they are (and likely will be for a while) and ROP term being a guaranty, it is probably worth crunching the numbers to see if this is a good option.

Ralph Said:

Is the Long-Term Disability Insurance premium deductible on Schedule C for a sole proprietor?

We Answered:

To add to the previous answer. the premiums for the owner are not deductible and the benfit received, if ever, is not taxable to you.

Andy Said:

Usually what is the typical premium for Term Life Insurance?

We Answered:

There is no typical premium as it will vary based on your death benefit, duration of term, age, and health. Try re-posting this in the Indian Y! Answers to get more specific information and quotes in lakhs.

Dennis Said:

How does Return of Premium Term Insurance works? What are the pro's & con's?

We Answered:

You pay your premium, the insurance company invests it and makes money off of it, and returns your principal after 20 years.

The biggest con is that 1. it's WAY more expensive than straight term insurance 2. you STILL do better buying straight term and investing the difference 3. once you factor in inflation, at the end of 20 years, it's worth less than at the beginning.

The biggest pro: It's much easier to sell to people who are bad at math. And the commisions are higher than straight term.

Ricky Said:

What is the typical cost of a $2m life insurance policy term, premium non-nicotine user?

We Answered:

The rate you pay depends on:

Age
Health
Weight
Family History
Medical History
The term length you are looking at.

Lee Said:

For how many years can I use my single premium term insurance policy certificate for tax benefit ?

We Answered:

You can invest as much as you want u/s 80C. But the eligible amount for exemption u/s 80C in one Financial Year is Rs 1,00,000/-. There is no provision to carry forward excess investment.