ING Reliastar ROP Term Rates
Cheap Life Insurance... and Cash Back Too!

Good news on the ROP (Return of Premium Term) front!  Our editorial staff at PremiumComparisons has found ING ROP Term Rates very competitive. 

The folks at ING have long been innovators and very competitive in a few key niches, but only recently has their ROP product begun to draw attention from consumers and brokers.

Here are some sample rates for the ages and term lengths we deem most appropriate for this type of product.  Please note as well that the rates we're providing are current as of September 2007 and they're based on the best possible underwriting classification.  (You can get a better idea of what your actual rates will be by entering your state of residence to the left and choosing a provider from the list that appears... You should be able to run an instant quote and get additional information on available health classes too.)

   

Male, 30 Year ING Reliastar ROP Term Rates - Annual Mode of Premium*
	20 Year Old	25 Year Old	30 Year Old	35 Year Old	40 Year Old
$50,000	$122.00	$122.00	$133.00	$156.00	$200.50
$100,000	$196.00	$196.00	$212.00	$249.00	$321.00
$150,000	$294.00	$294.00	$318.00	$373.50	$481.50
$200,000	$392.00	$392.00	$424.00	$498.00	$642.00
$250,000	$285.00	$285.00	$342.50	$447.50	$592.50
$300,000	$342.00	$342.00	$411.00	$537.00	$711.00
$350,000	$399.00	$399.00	$479.50	$626.50	$829.50
$400,000	$456.00	$456.00	$548.00	$716.00	$948.00
$450,000	$513.00	$513.00	$616.50	$805.50	$1,066.50
$500,000	$535.00	$535.00	$620.00	$790.00	$1,085.00
$550,000	$588.50	$588.50	$682.00	$869.00	$1,193.50
$600,000	$642.00	$642.00	$744.00	$948.00	$1,302.00
$650,000	$695.50	$695.50	$806.00	$1,027.00	$1,410.50
$700,000	$749.00	$749.00	$868.00	$1,106.00	$1,519.00
$750,000	$802.50	$802.50	$930.00	$1,185.00	$1,627.50
$800,000	$856.00	$856.00	$992.00	$1,264.00	$1,736.00
$850,000	$909.50	$909.50	$1,054.00	$1,343.00	$1,844.50
$900,000	$963.00	$963.00	$1,116.00	$1,422.00	$1,953.00
$950,000	$1,016.50	$1,016.50	$1,178.00	$1,501.00	$2,061.50
$1,000,000	$1,070.00	$1,070.00	$1,240.00	$1,580.00	$2,170.00
Multiply annual rates by .0833 to get the monthly mode of premium For Example: ($1,070.00) X (.0833) = $89.13

 

Female, 30 Year ING Reliastar ROP Term Rates - Annual Mode of Premium*
	20 Year Old	25 Year Old	30 Year Old	35 Year Old	40 Year Old
$50,000	$108.00	$108.00	$123.50	$144.50	$174.50
$100,000	$173.00	$173.00	$197.00	$231.00	$279.00
$150,000	$259.50	$259.50	$295.50	$346.50	$418.50
$200,000	$346.00	$346.00	$394.00	$462.00	$558.00
$250,000	$242.50	$242.50	$290.00	$370.00	$465.00
$300,000	$291.00	$291.00	$348.00	$444.00	$558.00
$350,000	$339.50	$339.50	$406.00	$518.00	$651.00
$400,000	$388.00	$388.00	$464.00	$592.00	$744.00
$450,000	$436.50	$436.50	$522.00	$666.00	$837.00
$500,000	$405.00	$405.00	$495.00	$660.00	$830.00
$550,000	$445.50	$445.50	$544.50	$726.00	$913.00
$600,000	$486.00	$486.00	$594.00	$792.00	$996.00
$650,000	$526.50	$526.50	$643.50	$858.00	$1,079.00
$700,000	$567.00	$567.00	$693.00	$924.00	$1,162.00
$750,000	$607.50	$607.50	$742.50	$990.00	$1,245.00
$800,000	$648.00	$648.00	$792.00	$1,056.00	$1,328.00
$850,000	$688.50	$688.50	$841.50	$1,122.00	$1,411.00
$900,000	$729.00	$729.00	$891.00	$1,188.00	$1,494.00
$950,000	$769.50	$769.50	$940.50	$1,254.00	$1,577.00
$1,000,000	$810.00	$810.00	$990.00	$1,320.00	$1,660.00
Multiply annual rates by .0833 to get the monthly mode of premium For Example: ($810) X (.0833) = $67.47

Some quick observations on the ING Reliastar ROP Term Rates...  Check out the premium comparisons in red.  You'll spot your best buys there.  It's cheaper to buy more coverage ($500,000 face amount instead of $450,000... $250,000 face amount instead of $200,000) in some cases.  This is due to ING Reliastar's "rate bands".  They offer a lower cost per thousand on their ING ROP Term Rates in these face amount ranges.

So... how does ING Reliastar ROP Term work?
It's simple really...  If you don't meet an untimely end before your term is up, all of your premium is returned to you.  So if you're a 30 year old female and you purchase 30 years worth of ING Reliastar ROP Term... your annual premium is $990.  This makes you eligible to receive $29,700 in returned premium when you're 60.  You can also opt to convert the plan to something permanent (such as a Universal Life Plan) without proving insurability or you can exchange the money for a reduced paid-up whole life insurance plan.  The reduced paid up whole life plan gives you coverage that's guaranteed for the rest of your life without ever paying another penny in premium.  You need to have an agent or broker run an illustration for you before you'll know exactly how much reduced paid up insurance the money will buy-- but it's often double (or better) what you pay.  So if you turned over your $29,700, ING Reliastar would issue a certificate for a reduced paid up life insurance plan for $60,000-- for example.  (This is not an accurate number... just an example.)

Anything else make the ING Reliastar ROP Term Plan unique?
Good question!  We searched high and low and can't find another company that offers ROP Term in face amounts lower than $100,000.  So if you're looking for less than $100,000-- ING Reliastar is most certainly the "go to" carrier.

The ING Reliastar ROP Term comparisons we've supplied are for the "Basic ROP Term Plan".  ING also offers an enhanced version of the plan that has a more generous return schedule.  It costs more for this option.  With all types of Return of Premium policies, you're not eligible to get anything back for at least 5 years.  So if you surrender the plan 3 years after it goes in force-- no premium is returned to you.  After you've had the plan for 5 years, you'll get some premium back, but the amount you get back doesn't equal what you put in until you've had the plan for the entire term length you've purchased.  So in the first year that you're eligible to get something back-- you may get only around 1% of the premium returned to you.  The enhanced version of the ING Reliastar ROP Term plan will give you your money back at a faster rate.  So instead of 1% in the first year of eligibility-- perhaps you'll get 2% on surrender instead.  Again... without an illustration... consider this just an example.  You'll need to punch in your state of residence on the top left of this page and talk to an agent that represents ING Reliastar to find out the whole scoop. 

Return of Premium Term Life Insurance is picking up steam when it comes to popularity.  We hope these ING Reliastar ROP Term Rates are helpful as you shop for coverage.  Be aware however, that American General, Genworth, Prudential, and Old Mutual Financial Group all offer Return of Premium plans as well.  You should compare all of them to help you make a decision.  Future articles will analyze additional carriers for you, but here are a few pointers (with respect to questions you could ask an agent) until then:

-- What is the monthly modal premium factor if you want pay that way? (If you're looking at Prudential for an ROP Term or even one of their ordinary Term plans... look out.  They're a great company but the monthly modal factor they use is the highest we've seen.)   Do you get back everything you put in?

-- What are the conversion options?  To what age can you convert the plan and does the company offer a reduced paid-up whole life certificate in exchange for the premium?  If they do offer a reduced paid-up plan, how much reduced paid-up whole life insurance will your returned premium buy?

-- If you want a more generous pay-back option because you're not sure you'll be keeping the plan for the entire term length-- Genworth and ING Reliastar are the only companies offering "Enhanced" return of premium term. 

Good luck in your ING Reliastar ROP Term Rates shopping!  We hope you've found us a valuable resource in your quest.  

*These rates are provided for information purposes only.  PremiumComparisons makes no claims with regard to accuracy and customers should check with an authorized ING Reliastar agent to verify their own personal health classification and potential underwriting outcomes.  PremiumComparisons does not sell insurance.