Living Protection For Things You Can’t See Coming
Stroke, Heart Attack, Sickness, Accident
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Flexibility For Needs As Individual As You
living benefit riders can provide early access to your policy’s death benefit, should the you experience a qualifying chronic, critical, or terminal illness such as a stroke, cancer, heart attack, or paralysis. Think about that! When you’re planning for the future, it’s good to know you’ll have protection for you and your family should the unexpected arise.
Get It Now!You should have access to benefits you can use, while you are living!
LIFE Insurance, not Death Insurance
RIDERS
- Accidental Death Benefit Rider
- Additional Insured Rider
- Base Insured Rider
- Children’s Benefit Rider
- Disability Waiver of Monthly
- Deductions Rider
- Disability Waiver of Premium Rider
- Guaranteed Insurability Benefit Rider
- Long Term Care Rider
- Overloan Protection Rider
LIVING BENEFIT RIDERS:
- Chronic Illness Accelerated Death
- Benefit Rider
- Critical Illness Accelerated Death
- Benefit Rider
- Terminal Illness Accelerated Death
- Benefit Rider
FREQUENTLY ASKED QUESTIONS
WHY IS LIFE INSURANCE WITH LIVING BENEFITS SO IMPORTANT?
Most life insurance policies only protect your family after you pass away. The plan with living benefit riders does that, plus provides you valuable access to accelerate your death benefit while you are alive, provided certain conditions are met. People see this as a smart way to have funds they may need without having to access a retirement account, 401(k), or liquidate CDs.
WHAT CAN I USE THE MONEY FOR?
It’s up to you. You can pay for care or treatment that may not be covered by your health insurance plan, replace income lost as a result of your illness, provide for in-home care or facility needs, bring the entire family together for a reunion, or use the money however you wish.
WHAT IS THE DIFFERENCE BETWEEN LIVING BENEFITS ON A LIFE INSURANCE POLICY AND ACCELERATED DEATH BENEFITS?
Living benefits and accelerated death benefits are terms used interchangeably on a life insurance policy. Both can provide access to funds should you suffer from chronic, critical, or terminal illness. When you choose to use your living benefits, you are accelerating your life insurance policy’s death benefit so that you can use the funds while you are alive. The death benefit will be reduced by an amount greater than the accelerated payment amount. The reduction in the policy’s death benefit will reduce the amounts payable to the beneficiary(ies) upon death.
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REAL LIFE EXAMPLES OF HOW
LIVING BENEFITS ARE USED
MEET RYAN
PROFILE: Male, age 45, preferred plus, nonsmoker
INITIAL FACE AMOUNT: $500,000
MONTHLY PREMIUM: $472
EVENTS: Pancreatic cancer at age 53
ACCELERATED DEATH BENEFIT (ADB):
This example assumes that Adam elects to accelerate the
maximum allowable amount of 100% of the available
death benefit, which is $500,000.
HYPOTHETICAL CASH PAYMENT FROM ADB:
AGE 53: $462,144
FACE AMOUNT REMAINING AFTER ADB EXERCISED:
AGE 53: $0
TERMINAL ILLNESS
Having a terminal illness means you have been diagnosed by a physician with
a medical condition resulting in a life expectancy of 12 months or less.
DEVASTATING DIAGNOSIS
At 45, Adam earned $125,000 a year and thought it was time to get his
finances in order. He purchased a 20 Term life insurance policy with living
benefit riders with a face amount of $500,000, for only $472 per month.
Sadly, eight years later Adam was diagnosed with pancreatic cancer and was
told he had eight months to live. Though a heartbreaking diagnosis, Adam
took comfort knowing that he was entitled to accelerate 100% of his death
benefit immediately. Adam received $462,144 of the $500,000 face
amount after the discount factor and fees were deducted
MEET RYAN
PROFILE: Male, age 61, standard, nonsmoker
INITIAL FACE AMOUNT: $1,000,000
MONTHLY PREMIUM: $1,212
EVENTS: Serious illness at age 65
REDUCTION IN LIFE EXPECTANCY: 80%
ACCELERATED DEATH BENEFIT (ADB):
The maximum amount that can be accelerated with the critical illness
rider is the lesser of 90% of the available death benefit or $1.5 million.
This example assumes that Ryan elects to accelerate the maximum
allowable amount for his policy, which is $900,000.
HYPOTHETICAL CASH PAYMENT FROM ADB:
AGE 70: $927,014
FACE AMOUNT REMAINING AFTER ADB EXERCISED:
AGE 65: $100,000
Premiums will be reduced proportionately and will continue to be
payable on the reduced face amount remaining. The payments and
results of the examples shown may vary by state.
CRITICAL ILLNESS
Being critically ill means you’ve been diagnosed by a physician with a
health condition such as a heart attack, stroke, cancer, end stage renal
failure, major organ transplant, blindness, paralysis, AIDS, aplastic
anemia, first coronary angioplasty, first coronary artery bypass, motor
neuron disease, or central nervous disease. Critically ill means you’ve
been diagnosed after the rider date with a medical condition that would,
in the absence of treatment, result in your death within 12 months.
HELP FOR THE UNEXPECTED
As the father of two grown children and a successful executive, Ryan
wanted to make sure his grandchildren would be taken care of, regardless of
what may happen to him. He chose to purchase a 25 year Term life policy
with optional living benefit riders in the amount of $1 million. The
premium payments were under $1,212 per month and fit in his budget.
Five years later, Ryan suffered a serious illness and he had to undergo a
major organ transplant as a result. That had a severe impact on his life
expectancy. Ryan chose to accelerate a portion of his death benefit right
away, which helped pay for things like his ambulance transportation,
organ transplant, and hospital stay. He’s thankful he still has a portion of
his death benefit left over for his children, should he pass away too soon.
What We Offer!
Whole Life Insurance
Final Expense- Instant Approval
- Cash Value
- From $5,000 to $2,000,000
- Living Benefits
Universal Life Insurance
Permanent coverage with flexible premiums. Option to guarantee death benefit. Ability to borrow against your policy. Instant Approval.
Term Life Insurance
We offer 10-, 15-, 20-, and 30-year terms in addition to permanent products. Whatever your needs, we have it covered.
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