What Is Life Insurance With Living Benefits?

Life insurance can do more than pay a death benefit and in today’s world, this is extremely important. Based on the National Safety Council, you are 3 1/2 times more likely to get disabled than pass away before age 85. So when your life insurance has these powerful living benefits, you may be able to accelerate the death benefit due to a qualifying illness or injury. 

 Accelerated Living Benefits are optional, no additional cost riders that can allow you to access all or part of your death benefit while you are alive if you experience a qualifying terminal, chronic, or critical illness or critical injury

The best part, you can use the benefit for any purpose and still have multiple life insurance options.

  1. Term Life with Living Benefits
  2. Universal Life with Living Benefits
  3. Whole Life with Living Benefits

Again, you can purchase the same life insurance products as others at similar prices, however, with living benefits, you can access the death benefit while alive.

house living benefits

Living Benefits could be used for, but not limited to:

  • Household expenses
  • Home modifications
  • Nursing home care
  • Adult day care
  • Regular bills
  • Quality of life expenses
  • Lifelong dream vacation
green quote marks

1 out of 2 men and 1 out 3 women are diagnosed with some form of cancer in their lifetime. 

National Cancer Institute

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Every 40 seconds an American has a heart attack.

American Heart Association

Living Benefits Qualifying Events

terminal illness icon

Terminal Illness

If you have been diagnosed with a terminal illness that will result in death within 24 months.

chronic illness icon

Chronic Illness

A doctor has certified, within the past 12 months, that you are unable to perform two out of the six “activities of daily living” for a period of at least 90 consecutive days with assistance.

Activities of Daily Living:

  • Bathing
  • Continence
  • Dressing
  • Eating
  • Toileting
  • Transferring
critical illness icon

Critical Illness

Critical illness includes:

  • ALS (Lou Gehrig’s disease)
  • Aorta Graft Surgery
  • Aplastic Anemia
  • BLindness
  • Cancer
  • Cystic Fibrosis
  • End Stage Renal Failure
  • Heart Attack
  • Heart Valve Replacement
  • Makor Organ Transplant
  • Motor Neuron Disease
  • Stroke Sudden Cardiac Arrest

*Each qualification varies per state regulations

 

critical injury icon

Critical Injury

Critical Injury Includes:

  • Coma
  • Paralysis
  • Severe Burns
  • Traumatic Brain Injury

*Each qualification varies per state regulations 

green quote marks

You are 3 1/2 times more likely to get disabled than pass away before age 85.

National Safety Council

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FREE Guide: Understanding Life Insurance with Living Benefits

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  • Access your death benefit while alive 
  • Lump sum payments for you to use without reimbursement 
  • Expedited claims process to get you paid in a time of need
  • Very affordable temporary options
  • Permanent options that cover you when you need it most
  • Cash value accumulation available
Understanding living benefits samples 3

What Is Life Insurance With Living Benefits?

Life insurance can do more than pay a death benefit and in today’s world, this is extremely important. Based on the National Safety Council, you are 3 1/2 times more likely to get disabled than pass away before age 85. So when your life insurance has these powerful living benefits, you may be able to accelerate the death benefit due to a qualifying illness or injury. 

 Accelerated Living Benefits are optional, no additional cost riders that can allow you to access all or part of your death benefit while you are alive if you experience a qualifying terminal, chronic, or critical illness or critical injury

The best part, you can use the benefit for any purpose. 

house living benefits

Living Benefits could be used for, but not limited to:

  • Household expenses
  • Home modifications
  • Nursing home care
  • Adult day care
  • Regular bills
  • Quality of life expenses
  • Lifelong dream vacation
green quote marks

1 out of 2 men and 1 out 3 women are diagnosed with some form of cancer in their lifetime. 

National Cancer Institute

green quote marks

Every 40 seconds an American has a heart attack.

American Heart Association

Living Benefits Qualifying Events

terminal illness icon

Terminal Illness

If you have been diagnosed with a terminal illness that will result in death within 24 months.

chronic illness icon

Chronic Illness

A doctor has certified, within the past 12 months, that you are unable to perform two out of the six “activities of daily living” for a period of at least 90 consecutive days with assistance.

Activities of Daily Living:

  • Bathing
  • Continence
  • Dressing
  • Eating
  • Toileting
  • Transferring
critical illness icon

Critical Illness

Critical illness includes:

  • ALS (Lou Gehrig’s disease)
  • Aorta Graft Surgery
  • Aplastic Anemia
  • BLindness
  • Cancer
  • Cystic Fibrosis
  • End Stage Renal Failure
  • Heart Attack
  • Heart Valve Replacement
  • Makor Organ Transplant
  • Motor Neuron Disease
  • Stroke Sudden Cardiac Arrest

*Each qualification varies per state regulations

 

critical injury icon

Critical Injury

Critical Injury Includes:

  • Coma
  • Paralysis
  • Severe Burns
  • Traumatic Brain Injury

*Each qualification varies per state regulations 

Download Your FREE Guide Today!

FREE Guide: Understand Life Insurance with Living Benefits

Quickly understand life insurance with living benefits by downloading your FREE guide TODAY!

Understanding living benefits samples 3