Life Insurance and Living Benefits

Life insurance continues to evolve and change. In the past, life insurance was all about the death benefit.

Life insurance provided tax-free cash to your family after your death. Today, life insurance also can help you during life’s most difficult times: a chronic, critical or terminal illness. This help comes in the form of optional riders called Accelerated Benefit Riders, also generically known as Living Benefits.

If you are diagnosed as terminally ill (within 24 months), or cannot perform two out of six Activities of Daily Living (ADLs – disability definition), or you experience cancer, a heart attack, a stroke, you can receive a portion of the policy’s death benefit tax free!

It is life insurance that you don’t have to die to use. Since cancer rates are skyrocketing in America, you should consider buying a living benefits life insurance policy. According to the American Cancer Society, in 2014, there will be an estimated 1,665,540 new cancer cases diagnosed and 585,720 cancer deaths in the US. Cancer remains the second most common cause of death in the US, accounting for nearly 1 of every 4 deaths.

Today, living benefits are available in both term and permanent insurance policies. Do not procrastinate on this decision. Every year life insurance becomes more expensive. You need to consider buying a life insurance with living benefits before it is too late.



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