Return of Premium on Death (ROPD)

In the context of Life and Living Benefits Insurance, "Return of Premium on Death (ROPD)" is a feature that ensures the policyholder's beneficiaries receive a refund of all premiums paid if the insured person dies while the policy is active. This refund is in addition to any death benefit that may be payable under the policy.

Key aspects of Return of Premium on Death (ROPD) include:

  • Premium Refund: Beneficiaries receive some percentage of (or all) premiums paid upon the insured's death.
  • Additional Benefit: The refund is provided in addition to the policy's death benefit.
  • Policy Condition: The policy must be active at the time of the insured's death.

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