Life Insurance
with Living Benefits
Protect Your Future with Life Insurance and Living Benefits
Life insurance offers a vital safety net, ensuring your loved ones are taken care of when life takes an unexpected turn. But did you know that you don't have to wait until the end to reap its benefits? With life insurance featuring Living Benefits, you can access funds during your lifetime when certain qualifying events occur.
Life Insurance with Living Benefits: Immediate Support When You Need It Most
Life insurance with Living Benefits provides crucial financial assistance during challenging times, thanks to Accelerated Benefits Riders (ABRs). These optional riders, available at no additional cost, enable you to access a portion of your death benefit on a discounted basis if you encounter a qualifying terminal, chronic, or critical illness.
What Are ABRs?
ABRs offer early access to a portion of your death benefit upon a qualifying event, allowing you to use the funds as you see fit. The flexibility provided by these benefits means you can address your unique financial needs during difficult periods.
Coverage Scenarios
Terminal Illness: If diagnosed with a terminal illness with a life expectancy of 12 months or less, you can receive a lump-sum payment of your death benefit. There is no waiting period, and while there is no annual limit, there is a lifetime cap on the benefits you can receive from all ABRs. This rider comes at no additional charge.
Chronic Illness: If you become unable to perform two of six "activities of daily living" (ADLs) or suffer from cognitive impairment, you may qualify for the accelerated death benefit, discounted after 30 days of the rider being in force. Again, no annual limit applies, but there is a lifetime cap on the benefits. A doctor must certify your inability to perform two ADLs for 90 days for eligibility.
Critical Illness: Should you be diagnosed with a qualifying critical condition, you can receive a portion of your death benefit based on the impact on your life expectancy after the rider has been active for 30 days. While there's no annual limit, a lifetime cap on benefits from all ABRs applies. There is no additional charge for this rider.
Alzheimer's Disease: If diagnosed with Alzheimer's disease or Lewy Body Dementia, you can receive a portion of your death benefit on a discounted basis. Note that this rider is unavailable if you have a first-degree relative with a history of Alzheimer's disease. No additional charge applies, and there is a lifetime cap on benefits from all ABRs.
Critical Injury: In the event of a qualifying injury, such as a coma, paralysis, severe burns, or traumatic brain injury, you can access a portion of your death benefit on a discounted basis after the rider has been in force for 30 days. Claims must be filed within 365 days following the occurrence of the qualifying event. In California, coverage for Critical Illness, Critical Injury, and Alzheimer's Disease riders requires health insurance and is available to individuals aged 0–64.
Comparing ABRs and Long-Term Care (LTC) Insurance
It's important to note that ABRs are not a replacement for long-term care insurance. ABRs provide supplemental benefits to a life insurance policy and are only suitable if you also require life insurance. These riders allow you to accelerate some or all of your death benefit in the event of a qualifying event, but they do not meet the criteria for long-term care insurance under California law. Additionally, ABRs are not part of the California Partnership for Long-Term Care program and are not Medicare supplements.
Experience Financial Freedom in Uncertain Times
Life insurance with Living Benefits provides a safety net, ensuring you have financial support during difficult times. It's not just about protecting your loved ones when you're gone but also about securing your peace of mind while you're here.
Embrace a policy that adapts to life's unpredictability and puts you in control.
Learn more about life insurance with Living Benefits:
