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"LIVING BENEFITS"
Life Insurance
Life Insurance You Do NOT Have To Die To Use!
Many people think of life insurance solely as a safety net for their loved ones in the event of their untimely death. However, certain types of life insurance policies offer benefits that you can utilize while you are still alive. These living benefits provide financial flexibility and security during your lifetime, making life insurance a versatile financial tool.
Modern life insurance policies offer numerous features that go beyond providing a death benefit. By integrating living benefits, these policies ensure that you can access financial support when it's needed most, without waiting for a claim to be paid out after death. Investing in life insurance you do not have to die to use can provide you and your family with valuable peace of mind and financial stability.
Does your existing life insurance policy allow you access some of your death benefits to help YOU with expenses, such as your mortgage, your car payment and even your groceries?
Living benefits Life Insurance provides early access to the policy's death benefit in the event of a qualifying chronic, critical or terminal illness.
What is a Critical, Chronic, or Terminal Illness?
Critical Illness
Critically ill means that you’ve been diagnosed with a health condition such as a heart attack, stroke, cancer, end stage renal failure, ALS, a major organ transplant, blindness or paralysis resulting from specific underlying conditions (If you live in California, critically ill means you’ve been diagnosed after the Rider Date with a medical condition that would, in the absence of treatment, result in your death within 12 months).
Chronic Illness
Chronically Ill means that the Insured is unable to perform at least two out of the six Activities of Daily Living (ADL's) or you require substantial supervision by another person, to protect you (the Insured) from threats to health and safety due to Severe Cognitive Impairment.
Terminal Illness
Terminally Ill means that the Insured has a medical condition, resulting from bodily injury or disease, or both, which is expected to result in the death of the Insured within 12 months of diagnosis. The condition must be first diagnosed by a Physician on or after the later of the Date of Issue or the Policy Date; and must be demonstrated by clinical, radiological, laboratory or other evidence of the medical condition which is satisfactory to us; and must not be curable by any means available to the medical profession.