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What happens if I don't have a Return of Premium Rider and die before getting my premium back?

A death prior to the annuity start date would mean that no annuity benefit whatsoever will be paid.

Annuity amounts will be greater without a Return Of Premium (ROP)  provision than with a ROP.  Generally, most people feel the incremental annuity amount is not worth the risk of losing the ROP death benefit   Also, carriers can offer contracts with provisions in between “with and without” a ROP.  For example, a policy election might say that a ROP death benefit can only be paid before the QLAC annuity start date.

Follow this Link to complete a quote with and without Return of Premium -- "Cash Refund" benefit features.  

Ron Ryan

Ron Ryan is the author of this solution

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Updated on Mon, 14 Aug 2017

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