Return of Premium on Expiry (ROPX)

In the context of Life and Living Benefits Insurance, "Return of Premium on Expiry (ROPX)" is a feature that provides the policyholder with a refund of some percentage of (or all) premiums paid if the policy reaches its expiry date without a claim being made. This ensures that the policyholder receives a financial return if they outlive the term of the policy.

Key aspects of Return of Premium on Expiry (ROPX) include:

• Premium Refund: Provides a refund of some percentage of (or all) premiums upon policy expiry.
• Policy Term Completion: Applicable when the policyholder outlives the policy term.
• Financial Security: Offers a way to recover the investment in the policy if no claim is made.