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<ul><li>Return of premium terms insurance plans are a kind of term plan that pays all of your paid premiums back if you outlive your entire term policy. </li><li>Since they come with a return of premium benefit, such <keyword id="171063" type="General" weightage="20" keywordseo="term-insurance" source="Orion">term insurance</keyword> plans charge a <keyword id="3275990" type="General" weightage="20" keywordseo="higher-premium" source="Orion">higher premium</keyword> than a pure term plan </li><li>Experts say that such plans may not be ideal for most people as the opportunity cost of extra premium amounts remains higher </li></ul>When we hear the word term insurance, what comes to mind is a pure insurance policy which covers the policyholder for a certain term and offers benefits only in case of the demise of the policyholder during that term. In the case of pure term insurance, the policyholder does not receive any monetary payout if he survives the policy term. However, there is a type of term insurance known as the <keyword id="20955968" type="General" weightage="20" keywordseo="return-of-premium-term-insurance" source="Orion">return of premium term insurance</keyword> that offers to return your premiums. “Term return of premium (TROP) is a kind of term plan that pays all of your paid premiums back if you outlive your entire term policy. Usually, term insurance plans do not come with maturity benefits, but once you add the return of premium feature at the time of inception, the payback of premiums is counted as the maturity benefit.,” says Naval Goel, Founder and CEO of PolicyX, an insurance comparison portal. You can choose the feature of return of premiums only at the inception of the policy and it cannot be attached or detached mid-term. Further, the maturity benefit is only paid if you have paid all of your premiums in time. Return of premium term policies charge a higher premium Since they come with a return of premium benefit, its a given that such term insurance plans charge a higher premium than a pure term plan. “Due to the return of premium benefit, the premium for these term plans is usually 1.8 to 2 times the premium for pure term plan,” says Abhishek Kumar, founder and chief<a href="https://business.outlookindia.com/invest/investment"> </a>investment advisor at SahajMoney, a financial planning firm. In certain cases, it may be even higher. For a better understanding, let’s compare a typical case for both policy types. Following are the premiums for a 35-year-old, non-smoker male, who has chosen coverage for 65 years of age and a life cover of 1 crore. His geographical location is Delhi and the premium payment mode is annual. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Insurer </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Plan Name </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Premium for Pure Term (₹) </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Premium for TROP(₹) </td></tr><tr><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI PRU </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">iProtect Smart </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17,647 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">40,455 </td></tr><tr><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Click 2 Protect Super </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18,934 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">47,712 </td></tr><tr><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Max Life Insurance </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Smart Secure Plus </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16,513 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30,734 </td></tr><tr><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Allianz </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Allianz Life eTouch </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14,628 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25,888 </td></tr><tr><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Canara HSBC </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Young Term Plan - Life Secure </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14,003 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25,005 </td></tr></tbody></table> Source: PolicyX Should you opt for it? Return of premium term insurance plan may come with a feel-good factor as one gets back the premium at the end of the policy term. However, one needs to remember that the premium paid is a lot higher and that beats the purpose of a cheap term insurance plan which does its job of providing insurance coverage. “As the premium is higher than pure term plans, hence return of premium term plan is not beneficial as one could get other investment opportunities during the same tenure to generate higher return on the additional premium which they would pay in case of return of premium term plan,” says Kumar. However, people who are wary of sunk cost might go for these plans as they get the satisfaction of getting the premium back at the end of tenure in case one survives during the coverage period. Again, it may not make sense in the current financial circumstance, but for some, it may provide the comfort of assured return of the principal amount.

Return of premium term insurance: Do TROP policies make financial sense with a higher premium?

<div class="KonaFilter image-container display-table float_right"><div><div class="image"></div></div></div>Last week, Google announced that it was going to start <a href="http://www.businessinsider.com/google-play-store-search-ads-2015-2">testing out search ads</a> in the Google Play store. As investors and analysts panic about how <a href="http://www.businessinsider.com/why-google-is-slowing-2014-10">Google's search advertising revenue growth is slowing</a> because it can't charge as much for mobile ad clicks as desktop ad clicks, this move gives Google another huge avenue for mobile monetization. But how do app founders and developers feel about it?We talked to half a dozen people - here's some of the interesting things we heard:<h2>It will help devs cut through the noise and get new data</h2>Ryan Matzner, new projects director <a href="http://fueled.com/?gclid=COWSwczZkcQCFYklgQod-4gAkQ">at app design and development company Fueled</a>, thinks it's going to be a huge boon for developers who are struggling to cut through the noise of the ~1.2 million apps in the Play Store. "Fueled is releasing new apps all the time and usually there's some other app in the store with a similar name or the same name. Even though it's a completely unrelated app or crappy app that no one's using and has four reviews that are at two stars, it's hard for us to rank ahead of them early on," Matzner says. "We would almost always want to buy paid placement, so that we could be visible right away." Ajay Kamat, developer at <a href="https://www.weddingpartyapp.com/">Wedding Party App</a>, says that his initial, knee-jerk reaction was negative. He didn't like the thought of having to potentially spend more money to compete with other big players.The bright side, he realized, would be that as an advertiser he'd likely get a lot more valuable data. When he buys regular Google search ads and Facebook mobile app install ads, there's so much data provided before his company makes an ad-spend decision. That kind of data from the Google Play store would be a huge benefit. "It would be interesting for us to look up the various wedding search terms, and really get some insight into what people are actually searching for," Kamat says. "We could do tests and learn more about our users. Right now, there's very little transparency - in many ways it's like a guessing game."<h2>But it could make the strong stronger and the weak weaker</h2>Almost everyone we talked to though also expressed concern that the ads would keep big, established players at the top. "A lot of developers barely have enough money to build these apps," Ben Schippers of <a href="http://happyfuncorp.com/#home">software engineering firm HappyFunCorp says</a>. "And then you're going to ask them to put money against buying ads?" "For people like us, it's not very good," Cameron Banga, co-founder of <a href="http://www.9magnets.com/">app development company 9Magnets </a>said. "We're small. Most of our clients aren't going to have the budget to compete with the people who are at the top. They're already facing an uphill battle, and this is just going to be just one more step that's going to be really hard to overcome without tons of capital." Banga has been making apps for five years, and loved the overall democracy of the Play Store, even though it has always been extremely competitive. "It's just kind of like a shot to the gut for everything I've loved about this industry," Banga says. "And obviously I don't think it's the end of small indies like us, but a lot of indie developers that I know... it's not like everyone's making a ton of money. So seeing something that benefits those at the top I think is kind of the opposite direction of what we want."<h2>The real problem is that app store search and discovery still needs to be much better </h2>"Right now, app discovery is pretty crappy, and most of it happens outside of the App store," Matzner says. "That's not how it should be." Facebook is raking in cash by selling <a href="http://www.businessinsider.com/facebooks-app-revenues-v-apple-and-google-2014-3">mobile app install ads</a> that link users back to the Google Play or Apple App Store, in part because neither company has <a href="http://www.businessinsider.com/the-app-store-is-ancient-and-outdated-2014-7">mastered promoting and marketing apps</a>. It"This is definitely not the fix," Matzner says. "There's a lot more that needs to happen."Once suggestion he had is that results should be more tailored. The Play Store knows which apps you've installed already, so it should personalize your search results to fit the type of apps you typically download, he says. Schippers suggests adding more filters, like what Amazon has on its site. First you could search for a broad category, like travel, and then Google would allow you to narrow that down into categories like "trip plannning" or "local guides."Another developer, who asked to speak on background, says he wishes there could be a contextual layer. So, if you searched for travel while in London, you would get London-specific apps. "The fact that there's no 'page rank' for apps and that the deep-linking world is still in its infancy, makes discovery a huge challenge for app developers," another person said on background. "Companies need to re-think the way app stores are displaying content and the way you find apps. Paid search will be part of it, but it's just scratching the surface," Schippers says. "And Google knows that." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/apps-for-productivity-saving-time-2014-10">5 Apps That Will Do Chores For You</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="dtaHc4cTppr1t5CXHShlYwhmBQPGipIz" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Google's about to start putting ads in its app store - here's what developers think

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Return of premium term insurance: Do TROP policies make financial sense with a higher premium?

Anagh Pal

Google's about to start putting ads in its app store - here's what developers think

JILLIAN D'ONFRO

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