CBO 100
At the end of the Cash Back Option period, you may request to terminate and receive 100% of base premiums paid (less any outstanding loans), if the benefit is still in effect.
Mortgage protection · Cash Back Option
Protect your home—and keep the option to get money back.
Mortgage-focused coverage that helps your family pay the loan if you pass away. With a Cash Back Option, you may reclaim 50% or 100% of base premiums at the end of the period if you never need the claim.
- Level death benefit sized to your mortgage term
- Cash Back Option: reclaim 50% or 100% of base premiums when the period ends
- Living benefits for critical, chronic, and terminal illness—included at no extra cost on qualifying products
Paul GipsonLicensed life insurance producer · NPN 21670586 · Los Angeles, CA- 10
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Cash Back Option
Cash Back Option: coverage now, money-back potential later
Hopefully you outlive your mortgage in good health. CBO products are built so you have life insurance while you need it—and a contractual path to get base premiums returned if you terminate at the end of the cash-back period.
CBO 50
Same idea at a lower premium: at the end of the period you may reclaim 50% of base premiums paid (less loans) when you request the cash-back surrender in time.
Match the loan timeline
Common cash-back / level periods include 15, 20, 25, and 30 years—so you can align protection with how long you’ll be paying the mortgage.
Simple underwriting
Many applicants answer a few health questions with no medical exam. You’ll often know if you’re covered quickly after applying.
Cash-back amounts apply to base policy premiums only—not rider premiums. Surrender must be requested within the product’s window after the anniversary (often 60 days). Loans reduce the amount returned. Examples are illustrative; your illustration will show exact numbers.
Living benefits
Living benefits—if illness hits before a claim
Living Benefit riders can give you access to an early (accelerated) payout of death benefits if you’re diagnosed with a qualifying illness. On qualifying products these living benefits are included at no additional premium—and that money can help with treatment, bills, or keeping the household running.
Critical illness
A lump-sum acceleration if you’re diagnosed with a qualifying critical illness such as invasive cancer, stroke, or heart attack.
Chronic illness
Help if a catastrophic health crisis leaves you unable to perform two activities of daily living for a qualifying period—funds that can go toward care and other expenses.
Terminal illness
A lump-sum benefit if you’re diagnosed with a qualifying terminal illness (typically life expectancy of 12 months or less)—usable for any purpose.
Accelerations are subject to eligibility, policy terms, administrative charges, and actuarial discounts. Requested amounts may result in little or no payment. Living benefits reduce the remaining death benefit. Not all benefits are available on every product or in every state.
Mortgage protection with CBO is often a fit if you…
- Have a mortgage (or are buying) and want the loan covered if you die
- Want the chance to get premiums back if you never file a death claim
- Prefer level coverage for a set period that matches the loan
- Want living benefits for critical, chronic, or terminal illness built into the plan
Mortgage protection questions
How is this different from regular term life?
It’s still life insurance sized around a mortgage timeline, but Cash Back Option products add a contractual path to reclaim a large share of base premiums at the end of the period if you terminate on schedule. Living benefits can also unlock money while you’re alive if you qualify.
Do I get money back automatically?
No. You typically must request the cash-back surrender within a short window after the period ends (often 60 days). If you keep the policy past that window, the cash-back opportunity for that anniversary may no longer apply—I’ll walk you through the exact rules on your illustration.
What do living benefits cost?
On qualifying Cash Back Option / mortgage-protection designs, critical, chronic, and terminal illness living benefits are often included at no extra premium. Accelerating benefits still reduces the remaining death benefit and may involve charges or discounts.
Is there a medical exam?
Often no—many applicants qualify by answering health questions on the application. Issuance still depends on those answers and underwriting guidelines.
Can the benefit help my family keep the house?
The death benefit is paid to your beneficiaries. They can use it to help pay off the mortgage, cover payments, or handle other needs. Optional income-style riders exist on some products if monthly payments would help—ask on our call.
HOW IT WORKS
Covered in 3 simple steps
No fees, no obligation, and you can stop at any step.
STEP 1
Tell me about you
60 seconds: who you're protecting, your budget, and the best way to reach you.
STEP 2
I compare carriers & call you
I run your numbers across 15+ carriers and call within 1 business hour—or pick a time on my calendar that suits you.
STEP 3
Apply in one call
We pick the plan together and I handle the application and follow-ups until your policy is in force.
MEET PAUL
Licensed, accountable, and on your side
I'm Paul Gipson, a licensed life insurance producer (NPN 21670586) serving families in 10 states. LifeAgentPaul isn't a brand with a sales floor behind it—it's me.
My name is on the line every time I recommend a plan. I'll show you term, whole life, IUL, and final expense options side by side, tell you which one I'd pick for your situation and why, and then stay available as your needs evolve.
About Paul Gipson
I'm Paul Gipson. I built LifeAgentPaul to make life insurance feel approachable—I combine licensed expertise with clear education so you understand premiums, death benefits, riders, and exclusions before you sign. Below are the actual state licenses I hold, so you can verify them yourself.
Whether you're covering a mortgage, protecting your income, or building a legacy for your family, you get a roadmap from me—not a sales pitch.
Licenses by state
I'm licensed for life insurance in the 10 states below. Select a state with an underline to view the credential image.
- MichiganMI
- VirginiaVA
“I'll help you stay protected when life changes—and I'll answer when you call. Your family's future is a relationship to me, not a one-time sale.”
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