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Old 06-13-2017, 04:35 PM   #11
Norwayguy on Return of Premium...???
Join Date: May 2008
State: Norwayguy is an Insurance Agent from Maine
Norwayguy is a member of 5000 posts Super VIP club
Return of Premium...???
Originally Posted by VolAgent View Post

I knew that is what you mean. Still not a fun conversation.

"Yeah, so your return of premium was eliminated because you became disabled 2 years ago. Sorry, but all that extra premium, the company kept it. Guess you shouldn't have bought that ROP rider."
But the whole ROP sale is the incase you never used it... Now they have coverage they may not have bought.... I have offered ROP term and DI as options have sold a few term no DI and let's face it I'm not a big believer in ROP myself and people tend to buy what I recommend.
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Old 06-20-2017, 11:21 AM   #12
Super Genius
TPetersen on Return of Premium...???
Join Date: Apr 2009
State: TPetersen is an Insurance Agent from California
Return of Premium...??? Re: Return of Premium...???
There will always be producers who do not like the refund of premium as much as there are those who do. That is ok. Much like those who sell whole or universal life insurance versus term. By the way have you ever tried to explain to your clients spouse they overpaid their life insurance because they bought a universal life plan? At time of claim, NO ONE care how much they paid! They are glad the had the coverage in force!

Now for you naysayers on ROP, I have received THREE refund of premium checks personally over the years! Happy?? You bet!

Statistically, 90% of those who buy refund of premium receive refunds! The 10% who don't, yes they over paid...Anyone know which 10% of the population will overpay?? Nope, me either!

You don't have to believe in ROP. It's not a religion. However, it does what it is supposed to do under the circumstances it is supposed to do, just like all other forms of insurance.


Thomas Petersen
Petersen International
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