What is the purpose of a Return of Premium feature in a life insurance policy?

The purpose of a Return of Premium feature in a life insurance policy is to ensure that the insured gets back the premiums they have paid into the policy if they survive the term of the policy. This feature typically applies to term life insurance and acts as a safety net; if the insured outlives the coverage period, they will receive a refund of all or a portion of the premiums they paid. This can make the policy more appealing, as it offers not only life insurance protection but also a form of savings or return on investment, which can be particularly attractive to policyholders. The return of premiums provides peace of mind, knowing that their investment in the policy can be recouped if they do not pass away during the term of the insurance.