Life insurance is traditionally seen as a “Safety Net” for loved one’s in the event of a policyholder untimely death. However, one of the newer life insurance policies available today “Life Insurance with Living Benefits” that not many know even exists can offer so much more benefits then just a standard traditional life insurance policy. The best thing is “Life Insurance with Living Benefits” is no more expensive than “Traditional Life Insurance.”
WHAT ARE LIVING BENEFITS
Living benefits also known as accelerated death benefits are funds you can access from your life insurance policies death benefit while you’re still alive. Living benefits life insurance is designed to provide coverage in the event of being diagnosed with a critical illness or chronic illness, which are becoming increasingly more common in today’s day and time.
THE REALITY OF CHRONIC AND CRITICALL ILLNESSES
No one likes to believe that a serious illness like Cancer, Stroke or being diagnosed with Alzheimer’s could happen to them but, the truth is it’s fairly common in today’s world.
Look at these statistics:
- 40% of all people in the US will be diagnosed with cancer in their lifetime
- 6 in 10 adults in the US currently have a chronic disease
- 4 in 10 adults currently have two or more chronic diseases
- Chronic illnesses are responsible for 63% of all deaths world wide
- 67% of all bankruptcies in the US are caused by medical issues
THE VALUE OF LIVING BENEFITS
Living benefits can provide much-needed financial relief during these difficult times. These benefits can cover a range of expenses, including but not limited to:
- Medical treatments not covered by medical insurance
- Replacing lost income due to being out of work
- Traveling to another state for care or treatment
- Help paying regular monthly bills
In fact, this money can be used any way that you want! Living benefits life insurance can help you recover physically and, not have to worry financially. It’s important to note, that accessing living benefits will reduce the death benefit of the policy that is available to beneficiaries when the policyholder dies.
Life insurance with living benefits is an essential investment for anyone who wants to protect their financial future in the event of having a critical or chronic illness. Given the prevalence of chronic and critical illnesses in society today and the financial relief that living benefits can provide, life insurance with living benefits is a plan everyone needs to own. No one knows what tomorrow holds that why it is so important not to wait until it’s too late – invest in life insurance with living benefits today. Contact our office today for more information.