The phrase “no-cost life insurance” is a little misleading. “No-cost” doesn’t mean a free pass on life insurance; rather, it refers to your ability to be paid in full if you outlive your policy. Another term for this type of policy is “return of premium (ROP) term life insurance.” With this particular insurance, your premiums will be repaid to you, either partially or in full, if no death benefit has been paid by the end of your insurance term. [Read more…] about No-cost life insurance?