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Life Insurance with “living benefits”
Most people purchase life insurance to provide a legacy of financial stability at their time of death. But doesn’t it make sense for some benefits to be available for the difficult financial times they have to face if a chronic, critical, or terminal illness precedes death? The industry calls this an “Accelerated Death Benefit Rider.” Texas Trusted Advisors has experience and knowledge in sourcing these policies for our clients.
We feel you should have access to benefits you can use while you are living. The products we offer often offer additional benefits you may need. This combination of benefits can help protect your plans for today—and tomorrow. Life insurance with “living benefits” is life insurance you can benefit from while you’re living, too.
How “living benefits” work
Life insurance with optional “living benefits” typically allow policyholders access to their death benefits while still alive. The circumstances vary by policy, issuing company and rider but are usually related to the following conditions:
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Terminal Illness
The policy pays a benefit if you are diagnosed with a terminal illness, resulting in a life expectancy of less than 12 months (24 months in some states). This can be used for experimental medicine, prepare for final expenses, or any other purpose you feel necessary.
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Chronic Illness
The policy pays a monthly benefit should you become diagnosed as chronically ill and unable to perform two daily activities or living such as bathing, dressing, eating, or due to cognitive impairment. This benefit is paid annually, and conditions apply.
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Critical Illness
The policy pays a lump-sum benefit should you suffer from a triggering illness such as cancer, heart attack, stroke, Lou Gehrig’s disease (ALS), blindness due to diabetes, kidney failure, major organ transplant, and more.
Insurance with Living Benefits Videos
Check out these videos to learn more and to find out how this type of insurance has helped other individuals and families.
Power of Living Benefits
Life Insurance with Living Benefits
The Miracle of IUL
Permanent Life Insurance as a Tax-free Retirement Vehicle
Life Insurance You Don't Have to Die to Use
Living with protection for your loved ones
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Randy Still TX License# 779061, Rachel Still TX License# 2014890
Licensed Insurance Professional. Respond and learn how insurance and annuities can positively impact your retirement. This material has been provided by a licensed insurance professional for informational and educational purposes only and is not endorsed or affiliated with Medicare, the Social Security Administration or any government agency. It is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice. We do not provide tax, legal or estate planning advice or services.
By contacting us, downloading booklets, or attending events, you may be offered a meeting to discuss how our insurance and other services can meet your retirement needs. The presenters of this information are not associated with, or endorsed by, Medicare or the Social Security Administration or any other government agency.
Insurance product guarantees are backed by the financial strength and claims-paying ability of the issuing company. Annuity withdrawals are subject to ordinary income taxes, and a potential 10% IRS penalty before age 59-1/2. Product and feature availability may vary by state.
Insurance and annuity products involve fees and charges, including possible surrender penalties. Indexed insurance products are not an investment in the market or the index. ARE-15557 | 12/28 - 17694547