Jeffrey Manola is an experienced life insurance agent and the founder of Top Quote Life Insurance. His mission when he created Top Quote Life Insurance was to provide online consumers searching for life insurance with the absolute best quotes for term life insurance, permanent life insurance, no medical exam life insurance, and burial insurance. Not only does he strive to provide you with the ...

Full Bio →

Written by

Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...

Full Bio →

Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Nov 4, 2020

Advertiser Disclosure

It’s all about you. We want to help you make the right life insurance coverage choices.

Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.

What is universal life insurance? Universal life insurance is a form of permanent life insurance coverage. Out of all types of permanent life insurance coverage it is the most affordable, comes with a guaranteed fixed premium and provides a lifetime of insurance coverage.

It’s not uncommon for someone looking to purchase a permanent life insurance policy to mistake universal life insurance for whole life insurance or even be unaware that this insurance coverage even exists. Whole life insurance and universal life insurance have their similarities, but are also very different.

Confusion is understandable as both types of coverage are permanent, as well as have a fixed premium. Whole life insurance however is much more expensive as it focuses on earning greater cash build up within the policy. Universal life insurance does not focus on cash growth, but rather provides the absolute lowest premium for permanent life insurance coverage.

Universal life insurance is not only affordable permanent life insurance coverage, but many life insurance companies are adding tons of great policy features and riders such as the return of premium option.

Interested in learning more about universal life insurance? You can visit our page on our review of the best guaranteed universal life insurance.

Looking to compare life insurance policies? We can help. Enter your ZIP code to get free quotes from multiple insurers.

What is Universal Life Insurance with Return of Premium?

Return of premium is most common with 20 and 30 year term life insurance life insurance policies. The return or premium coverage guarantees you a full refund of 100% of your premiums paid at the end of the term contract.

Be sure to check out our Return of Premium Term Life Insurance for a list of available return of premium term life insurance companies.

Since universal life insurance is permanent life insurance coverage, you may be wondering how it is possible to have a return of premium option on something that doesn’t end.

A few life insurance companies (3 at the moment) have designed their universal life insurance coverage to give their policyholders the option to surrender their life insurance coverage at specific policy years for a refund of their premiums.

 

Your one-stop online guide for life insurance quotes. Get free quotes now!

 Secured with SHA-256 Encryption

3 Life Insurance Companies that offer Universal Life Insurance with Return of Premium

Universal life insurance with return of premium is not offered by all life insurance companies. There are only 3 life insurance companies that are offered by Top Quote Life Insurance that currently offer universal life insurance with return of premium.

Currently, universal life insurance with return of premium is rare but we hope to see more life insurance companies offering this option in the near future. If you’re considering universal life insurance coverage and like knowing that if your life insurance needs may change in the future, consider looking into one of the two following universal life insurance with return of premium options.

 

American General Life Insurance (AIG)

AIG Life Insurance GUL III with Return of Premium

AIG offers a return of premium feature on their universal life insurance coverage called AG Secure Lifetime GUL III. The guaranteed return of premium option allows you the opportunity to surrender your life insurance coverage at two specific policy anniversary years for a refund.

  • Surrender policy in year 20 and receive 50% of premiums paid
  • Surrender policy year 25 and receive 100% of premiums paid or up to 40% of the death benefit

 

American National Life Insurance (ANICO)

American National Signature Guaranteed Universal Life Insurance with Return of Premium

As of February 1st of 2016, ANICO introduced their new guaranteed universal life insurance coverage called Signature Guaranteed UL and we must say it has some really great features. Not only does the life insurance coverage offer you three different anniversary years to surrender your coverage for a return of premium, it also comes with a terminal, critical and chronic illness riders also know as accelerated benefits.

  • Surrender policy in year 15 and receive up to 65% of premiums paid
  • Surrender policy year 20 and 25 and receive up to 100% of premiums paid or up to 65% of the death benefit

    

Your one-stop online guide for life insurance quotes. Get free quotes now!

 Secured with SHA-256 Encryption

United of Omaha Life Insurance Company

Mutual of Omaha Guaranteed Universal Life Insurance with Return of Premium

You can also find the return of premium feature on United of Omaha’s Guaranteed Universal Life. The return of premium option is similar to AIG’s policy but offers an additional surrender year allowing you three specific policy anniversary years to surrender your coverage for a refund of premiums.

  • Surrender policy in year 15 and receive 50% of premiums paid
  • Surrender policy in year 20 and 25 and receive 100% of premiums paid or up to 35% of the death benefit

  

How to get Universal Life Insurance with Return of Premium Quote

Getting a quote for universal life with return of premium can be done instantly by using the quote form located on this page.

Looking to compare life insurance policies? We can help. Enter your ZIP code to get free quotes from multiple insurers.