Return of premium (Endowment Benefit Rider) (Not available in DE)
The Endowment Benefit Rider provides for a return of premium (ROP) benefit that is paid to the owner upon termination of the policy for any reason other than the death of the insured. The Endowment Benefit is paid to the owner at the end of the level term period, at which point the rider terminates. If the rider terminates for any reason other than death prior to the end of the level term period, then the policyholder is entitled to receive a percentage of the following premiums: premiums paid for the term life base policy and premiums paid for the Endowment Benefit Rider (ROP). Flat extra and table rating premiums, other rider premiums, and the annual policy fee will be excluded.
Once the appropriate percentage has been applied to the premiums, benefits paid under any Accelerated Benefits Rider attached to the policy will be subtracted to determine the return of premium benefit paid. The return of premium percentages will vary by the premium band, issue age, gender, underwriting class, and level term period.
Availability: Available at the time of application to the base policy insured.