Living Benefits Life Insurance
Living Benefits are the new kind of life insurance. In short, it's life insurance you don't have to die to use.
What are Living Benefits?
Living Benefits life insurance represents a modern twist on life insurance coverage.
By having a policy with Living Benefits, you gain “early access” to the policy’s death benefit if you become seriously ill or injured during your lifetime.
Protect your family.
We can't always predict life's unexpected curveballs, but we can plan for them. By covering your family with Living Benefits, you give your loved ones the gift of financial readiness.
Avoid medical bankruptcy.
Financial stress does not have to be a part of a major health event. Living Benefits can put a lump sum of cash in your hands to cover your medical expenses and focus on what really matters most: getting better and getting back to your life.
Live with peace of mind.
By protecting your loved ones and proactively eliminating financial risks, you can rest assured that you have planned and are prepared for any surprises life throws your way.
How do Living Benefits work?
Living Benefits are built-in features that allow policyholders to access their death benefit "early" to get money in their hands when they need it most. If an insured party suffers and survives a heart attack, stroke, cancer, or other qualifying illnesses, they will have access to potentially hundreds of thousands of tax-free dollars, delivered straight to their bank account.
The best part? These Living Benefits come included at no extra cost!
You wouldn’t buy a new car that didn’t come equipped with airbags, right?
So why would you own a life insurance policy that doesn’t come equipped with modern features that allow you early access to your death benefit if you get sick? If free Living Benefits aren’t included in your coverage, you’re exposing yourself to unnecessary risk.
Do more with your life insurance policy.
More For The Same Price: Living Benefits give you more options, more flexibility, and more protection – all for the same price as an old-fashioned life insurance policy that only pays out if you die. It's a no-brainer.
| Pays Out Upon: | Traditional Life Insurance | Life Insurance with Living Benefits |
|---|---|---|
| Death | ✓ | ✓ |
| Heart Attack | ✕ | ✓ |
| Stroke | ✕ | ✓ |
| Cancer | ✕ | ✓ |
| Blindness | ✕ | ✓ |
| Paralysis | ✕ | ✓ |
| Traumatic Brain Injury | ✕ | ✓ |
| Same Price | Same Price |
Qualifying illnesses & injuries
Some examples of the "triggering conditions" that may allow a policy holder to activate Living Benefits features are:
Cancer
Heart Attack
Stroke
Paralysis
Major Organ Transplant
Kidney Failure
Blindness
ALS (Lou Gehrig's Disease)
Coma
Major Burns
Organ Transplant
Aorta Graft Surgery Aplastic Anemia
Cystic Fibrosis
End Stage Renal Failure
Heart Valve Replacement
Motor Neuron Disease
Sudden Cardiac Arrest
Traumatic Brain Injury Alzheimer's
Disease
Options are always good.
Living Benefits give you options when life gives you a curveball. Choose to accelerate your full benefit, any portion of it, or none at all.
Frequently Asked Questions:
How do Living Benefits Work?
Once a qualifying health event has occurred on an active policy, a Living Benefits policy will allow the insured party to accelerate the death benefit, essentially allowing early access to the policy’s death benefit at a discounted rate. That discount will vary depending on the severity of the illness or injury. The more impact the health condition had on the insured’s life expectancy going forward, the more money they will be offered per given amount of death benefit.
What is an example of a Living Benefits pay out?
For example, a client with a $500,000 Term policy who suffers a major, life-threatening cancer diagnosis may be offered $400,000 in exchange for accelerating their full $500,000 policy. On the other hand, a client who suffers a minor heart attack and whose prognosis is very positive may only be offered $100,000 in exchange for the full $500,000 acceleration. In all cases, it is the client’s decision of whether to accept the offer and take the money or leave the full death benefit in place. In many cases, it’s even possible for the client to accept a partial offer and get some money in their hands while leaving a portion of death benefit in place for the future.
What is covered by Living Benefits?
ABRs and triggers can vary widely between insurance carriers and products, so it’s important to be educated on what riders are included any Living Benefits policy you may be considering and know what conditions would qualify for a Living Benefits claim. The top Living Benefits products out there will offer all of the following ABRs and associated triggers at no extra premium cost:
Terminal Illness: 1-2 years expected to live
Chronic Illness: Unable to perform 2 of 6 activities of daily living OR severe cognitive impairment
Critical Illness: Cancer, heart attack, stroke, major organ transplant, kidney failure
Critical Injury: Paralysis, coma, major burns, severe brain injury
Why own Living Benefits?
In this day and age, it always makes sense to have Living Benefits included as part of your life insurance policy. Compared to traditional life insurance, which only pays out the death benefit if you die, Living Benefits provide you with more options and more access to your policy’s benefits in more scenarios. Any Living Benefits claim offer can always be declined if you wish, but having options is always better than not having options, especially after a major unexpected health event.
How do I get Living Benefits?
Living Benefits are kind of our thing. Reach out to us – we can connect you with our network of licensed Living Benefits experts who can audit any current coverage you have and make sure your family has the most modern and up-to-date coverage available.
What is Living Benefits life insurance?
Living Benefits life insurance is a valuable financial tool that not only protects loved ones in the event of death but also provides a safety net during life's unexpected challenges.
Living Benefits life insurance represents a modern twist on life insurance coverage. A policy featuring living benefits riders (also known as accelerated benefit riders, or ABRs) will grant “early access” to the policy’s death benefit while the insured party is still alive if they are to suffer any of the triggering conditions contained in that policy’s living benefits riders.
Provides peace of mind
Comes with your policy
No extra costBullet List 4