Term insurance with return of premium (TROP) is a special type of term plan. It gives life cover like normal term insurance, but if you survive the policy term, you get all the premiums back.
For example, if you pay Rs. 5,000 per year for 20 years, and nothing happens to you, you get Rs. 1,00,000 back at the end.
This plan is more expensive than regular term insurance because of the return benefit. But it’s a good option for people who want their money back if they don’t use the insurance.
TROP gives both protection and savings. It’s suitable for people who want a safety net with some refund assurance.
