Ralph Romano is our Life and Disability Insurance member. Ralph discussed the topic of Term Insurance. He mentioned that the reasons that most people buy term insurance because it is a low cost, temproary product. It is a product that is fit for the maximum need with the least cost. The downside is that it has an end and can run out before you really need it. Most term insurance is offered for 10 to 20 year term, but the term can go higher. Ralph described a product that he offers that is a type of term product that offers a return of the premium. Generally the premium is higher than traditional term insurance, but lower than that of whole life insurance. At the end of the policy, the policyholder gets all of the premiums paid in back. This is a relatively new product within the framework of traditional term insurance.
Remember Ralph Romano and The Leaders Group when you hear your associates mention that they are looking for life or disability insurance or are interested in having an evaluation of their current life insurance portfolio.