Life Insurance
Life insurance can be described best as insurance not for the insured but rather for those people that are financially dependent upon the insured. If anyone financially relies on you for support then you need life insurance.
Our company is in the business of providing financial relief, even before death. One method of doing this is through life insurance with living benefits. Most people believe that life insurance just pays out at death. However, that is not how our products work. Our life insurance has “living benefits” that protect you for terminal, critical and chronic illness as well as death!
How Living Benefits Work for Terminal Illness?
Your life insurance policy can pay living benefits if you are diagnosed as being terminally ill and have less than 12 months to live (24 months in some states). These benefits may be used at your discretion for experimental medicines, operations or treatments; to prepare for your final expenses or for any other reason you wish.
Can Living Benefits Be Used for Chronic Illness?
Your policy may pay monthly living benefits if you should be diagnosed as chronically ill, suffering from a cognitive impairment or you are unable to perform two or more activities of daily living, such as bathing, dressing, eating or toilet use. This benefit is paid annually, (up to 24% of your death benefit), on policies in-force for 2 years or longer.
How About for a Critical Illness?
Living benefits may be paid, should you suffer from a triggering ailment such as cancer, heart attack, stroke, Lou Gehrig’s disease (ALS), blindness due to diabetes, kidney failure or major organ transplant, and more!
“Your life insurance policy can pay living benefits if you are diagnosed as being terminally ill and have less than 12 months to live (24 months in some states). These benefits may be used at your discretion for experimental medicines, operations or treatments; to prepare for your final expenses or for any other reason you wish.”
Types Of Life Insurance Policies
You know that you need life insurance. However, with the wide variety of insurance policies available, you may find choosing the right one difficult. It’s really not as confusing as it seems, however, once you understand the basic types of life insurance policies.
Term life Insurance
Term life is simple and affordable and you pay a low monthly premium based on the term length and the amount of coverage you need. At the end of your term, you may able to renew your Insurance.
Whole Life Insurance
Whole life insurance is a type of permanent insurance or cash value insurance. Unlike term insurance, which provides coverage for a particular period of time, permanent.
Universal Life
A universal life insurance policy will generally provide very broad premium guidelines (i.e., minimum and maximum premium payments), but within these guidelines you can choose how much and when you pay premiums. Reducing or increasing premiums will impact the growth of the cash value component and possibly the death benefit. You are also free to change the policy's death benefit directly (again, within the limits set out by the policy) as your financial circumstances change. Be aware, however, that if you want to raise the amount of coverage, you'll need to go through the insurability process again, probably including a new medical exam, and your premiums will increase. Finally, the variety of Life Insurance coverage might as well make it difficult to choose the type of coverage who would fit your family needs unless you get assistance from our qualified Agent(s). Please give us a call and let our specialist guide you to make the best decision of a life time.
