Say you buy a $500k 20 year ROP with fixed annual premium of $1000. If you are still jumping around after 20 years, you will get your $20k back. On the other hand, the insurance company got the use of your money free for a long time (10 years in average) and made a profit on it. Even if you die, it's more likely that it will happen towards the end of the 20 year term, and they have already collected and profitted from most of the annual payments.
I bet that if you compare the quoted premium amounts for traditional policies versus ROP, the latter is surely higher.
By the way, most long term life policies return all the premiums paid in case of a death. They just figured out all the numbers and add to the premium.
I bet that if you compare the quoted premium amounts for traditional policies versus ROP, the latter is surely higher.
By the way, most long term life policies return all the premiums paid in case of a death. They just figured out all the numbers and add to the premium.
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