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Life Insurance that Includes Living Benefits
Many Life Insurance policies offer living benefits, allowing you to use part of the Death Benefit while still alive. These are often added as riders on Universal Life Policies, though some Term Policies also include living benefits.
Living Benefits at No Extra Cost
Now, most Term and Universal Life policies include a free terminal illness benefit rider. If diagnosed with a terminal illness expected to lead to death within 12 months, the insurer pays out a portion of your death benefit early.
Additionally, some insurers provide a return of premium rider on Universal Life policies at no extra charge. This rider lets you cancel the policy at specific times during its term and receive a refund of all premiums paid, typically after maintaining the policy for 20-30 years. Companies like Symetra, United of Omaha, and American General offer this benefit without extra cost.
Living Benefits at Extra Cost
Universal Life policies are increasingly including riders that let you use your death benefit early if you face a critical or chronic illness or require long-term care, with specific amounts accessible.
For critical illnesses like cancer or heart attacks, you could receive a one-time payment, such as $25,000. If you have a chronic illness that prevents you from doing daily tasks without help, you might access up to 2% of the death benefit monthly until it's depleted. Policies vary, and we're here to help you navigate them.
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About Us
TermLifeProvider | Home of HassanHelps is a leading life insurance brokerage with the best rates from top insurers. With over 16 years, we've helped thousands save on life insurance.
We've seen many clients struggle with weight and related health issues like sleep apnea, diabetes, high blood pressure, arthritis, and heart disease. By educating our clients on how these health issues affect life insurance costs, we aim to improve their health and reduce their premiums.