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Before purchasing a life insurance policy, consider a return of premium option, which allows you to receive all the money you've paid if you don't die within a specified period. This is available only through term life insurance. Term life insurance is compared to renting an apartment; if you have a 30-year term policy, for example, and you pay $20,000 over that period, the difference is that unlike traditional insurance, you can receive a refund of your premiums if the policy expires without a claim.