Term life insurance covers the policyholder for a specific amount of time, which is known as the “term.” Terms typically range from 10 to 30 years, depending on the product and preference of the policyholder. Among the most popular life insurance products available, term life tends to be more affordable. It typically provides an amount of coverage for much less than permanent types of life insurance. Why is it so popular?
Living Benefits are offered on all of our Term life insurance products at no additional charge. Living benefits, or Accelerated Benefit Riders, are life insurance proceeds paid to the policy holder before he or she dies. It’s life insurance you don’t have to die to use. With these riders, should you experience a chronic, critical or terminal illness, you can accelerate a benefit from your policy and receive TAX FREE CASH to use as you choose and never have to pay back. It simply lowers the face amount of your policy.
Statistics show that 7 out of 10 of us will experience a stroke, heart attack or cancer sometime in our lifetime. However, in today’s world, modern medicine is good and its saving lives and keeping us alive longer.
The odds of having something happen and needing cash to help us get through it is greater than dying. This tax free money could help you pay for medical expenses not covered by insurance, pay your mortgage or rent if you can’t work, or pay for a caregiver. Many people purchase these policies to have access to cash should they experience a long term care need. We are so confident in these products, that we only offer term life policies that include Living Benefits.