Living Benefits
Living benefits refer to features of certain insurance policies that allow the policyholder to access some of the benefits while they are still alive. These benefits can provide financial support in times of need, such as in the case of a critical illness, disability, or long-term care requirement. By utilizing living benefits, policyholders can receive funds to cover medical expenses, daily living costs, or other financial needs, providing a safety net during challenging circumstances.
One common type of living benefit is accelerated death benefits, which allow the policyholder to receive a portion of the death benefit if they are diagnosed with a terminal illness. This can help alleviate financial burdens associated with medical bills or end-of-life care. Another type is critical illness benefits, which provide a lump sum payment upon diagnosis of a serious illness specified in the policy, such as cancer or heart disease. Overall, living benefits offer policyholders the flexibility and support to navigate unexpected challenges and maintain financial stability during difficult times.
Real Stories from Real People
Kathleen Luche
Passionate Living Benefits Expert empowering clients to make informed decisions for financial security.
