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Life Insurance & Living Benefits Solutions
What are Living Benefits?
We like to call them “Life insurance you don’t have to die to use”! Since the benefit is unrestricted, once you qualify, you can use the benefit for any expense.
Living Benefits can provide MUCH NEEDED cash should a qualifying terminal, chronic or critical illness, or if your objective is to have an income that you can’t outlive.
Living Benefits Explained
The Living Benefits Riders, or Accelerated Benefit Riders (ABR) help provide peace of mind at a time when the LAST thing you need to worry about is money. It allows the policy owner to have access to an early (accelerated) payout of the death benefits within your policy if the insured is diagnosed with a qualifying illness. Living Benefits are included on policies at NO additional COST!
Terminal Illness
Pays a benefit if you are diagnosed with a terminal illness resulting in life expectancy of less than 12 months (24 months in some states). This can be used for experimental medicine, prepare for final expenses or any other purpose you feel necessary.
Chronic Illness
Pays a monthly benefit should you become diagnosed as chronically ill and unable to perform two daily activities such as bathing, dressing, eating, or due to cognitive impairment. This benefit is paid annually (up to 24% of your death benefit). Policy must be in-force for 2 years.
Critical Illness
Critical Illness
Pays a lump sum benefit should you suffer from a triggering illness such as cancer, heart attack, stroke, Lou Gehrig’s disease (ALS), blindness due to diabetes, kidney failure or major organ transplant, and more!
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IUL - Living Benefits Explained
