What Is Return Of Premium Term Life Insurance? 
Return of Premium -LRB- ROP -RRB- life insurance invests your premiums so that you can get some or all of them returned to you in the future . Most ROP policies must be in effect at least half of the term period in order to receive any premiums back if the policy is cancelled . This amount grows until it reaches 100 % on the last day of the policy . At that time , a check for the full amount of premiums paid in is sent to the policy owner . Of course , if death would occur before the term is ended , the death benefit would be paid to the beneficiary , just like with regular Term insurance . Contrary to regular Term insurance , where premiums are higher the longer the term , Return of Premium life insurance premiums are usually lower the longer the term . 