There are many types of insurance, and the type of insurance that would be used for a return of premium would depend on the situation. If the return of premium were for an individual, then it would likely be a life insurance policy. If the return of premium were for a business, then it might be a property and casualty insurance policy. The type of insurance used would also depend on the terms of the return of premium. For example, if the return of premium were for a certain number of years, then it would be a term life insurance policy. If the return of premium were for the life of the insured, then it would be a whole life insurance policy.