Top 3 Reasons to Get Life Insurance with Living Benefits
Securing Your Financial Future
At some point, we all start thinking about our financial future and how we can ensure that our loved ones are protected. Life insurance with living benefits offers a way to secure your financial future while providing peace of mind. With this type of coverage, you can rest easy knowing that you have taken steps to protect your family’s financial well-being.
Protecting Against Unexpected Expenses
Life is full of unexpected events and expenses that can quickly drain your savings. From medical emergencies to home repairs, having life insurance with living benefits can provide a safety net for these unforeseen circumstances. This coverage allows you to access a portion of your death benefit while you are still alive, providing much-needed funds during times of financial hardship.
Addressing Health Concerns
Health concerns can be a major source of stress and uncertainty. Life insurance with living benefits can help alleviate some of this worry by offering financial assistance when you need it most. If you are diagnosed with a critical illness, such as cancer or a heart attack, your life insurance policy can provide a lump sum payment to help cover medical expenses, treatments, and other related costs. This can ease the financial burden and allow you to focus on your recovery.
With life insurance that includes living benefits, you can have peace of mind for the future. Whether you want to secure your financial future, protect against unexpected expenses, or address potential health concerns, this type of coverage provides a valuable safety net. By thinking ahead and investing in life insurance with living benefits, you can ensure that your loved ones are supported during challenging times and have the financial resources they need to move forward.
To Elaborate…
Video Transcript:
Hi, this is Mike Sheehan from FinancialProf.Org. Let’s talk about living benefits. Living benefits has been around for a little while, and not all life insurance policies have living benefits. So again, it’s something you would want to ask from the get go when you’re talking about your life insurance program.
But living benefits were incorporated as a tool and added to the insurance policy in the event that you have health issues prior to your death. So it is just as it implies, it’s a living benefit. You do not have to die to get the proceeds from your life insurance policy. Different companies have different limitations, so you want to make sure that you investigate that, so at least you know.
But some companies will give you 40, 50, 60, 70 percent of your death benefit if you have a critical, chronic, or terminal illness. So, again, it’s nothing that you have to pass away to benefit from the policy. And these are benefits that are added to. It’s nothing that you have to really ask for, except that when you’re talking to an agent, say, “Hey, does my policy include living benefits?”
Because, again, not all life insurance policies include living benefits. So, again, it’s a feature in the policy that if you have a critical, chronic. or terminal illness that you can, you can make a claim to the insurance company and a percentage of your death benefit can come to you in the form of a tax free check.
So, when you’re looking to investigate into your insurance ,or if you want to see if your current policy has living benefits. Reach out to us at FinancialProf.Org. We’d be happy to talk to you about it. Again, I always like to let you know that we deal with 20 to 30 different companies. So we’re a broker.
We can do the shopping for you. Chances are we’re familiar with that company that you have a current policy with, or if you’re looking to pick up something because you said to yourself, “Hey, I need to get my life insurance”. So, make sure you like, subscribe. Share this video, turn on your notifications, so the next time we have one that you don’t miss out.
So make it a great day.
