The insurance company could simply refund the amount of your life insurance premiums to your beneficiaries, but not provide any funds as part of the face value of the insurance policy. (term-life-online.com)
One thing to note, if you add riders to the policy, you won't be refunded the amount for the additional coverage, just the main policy. (goodfinancialcents.com)
If you had that tax refund amount early on, it could already be earning interest for you. (debtconsolidationusa.com)