Living Benefits Rider: The New Insurance Policy You Need

Are you tired of paying for insurance that only covers you after you pass away? It’s time to consider a new policy that offers living benefits riders, at no extra cost. Living benefits provide policyholders with access to their death benefit while they’re still alive in the event of a qualifying illness or injury. This means you may be able to access up to 90% of your death benefit during your lifetime.

Qualifying Events: Terminal, Chronic, Critical Illnesses, and More

What are the qualifying events for living benefits?

There are several, including terminal illness, chronic illness, critical illness, critical injury, a qualifying diagnosis of Alzheimer’s disease or Lewy Body Dementia, and the Fertility Journey Rider. These events can be life-changing and can cause significant financial strain on individuals and their families. With living benefits, you can have peace of mind knowing you have access to your death benefit when you need it most.

Terminal Illness

If you are diagnosed with a terminal illness with a life expectancy of 24 months or less, you can elect to receive a discounted payment of your death benefit. There is no waiting period to be eligible for a payment, which will be made to you as a lump sum.

Chronic Illness

After the rider has been in force for 30 days, if you become unable to perform two of six “activities of daily living” (ADLs) or become cognitively impaired, you will be eligible to receive a benefit. If a doctor certifies you are unable to perform two of the six ADLs (listed below) without assistance for a period of 90 days, you will become eligible for the benefit.

Activities of Daily Living include:

• Bathing
• Continence
• Dressing
• Eating
• Toileting
• Transferring

Critical Illness

After the rider has been in force for 30 days, if you are diagnosed with a qualifying condition, you will be eligible to receive a discounted portion of your death benefit. You may take all or part of the amount offered. The benefit paid is based on the impact on your life expectancy.

Qualifying Illnesses include:

• ALS (Lou Gehrig’s disease)
• Aorta Graft Surgery*
• Aplastic Anemia*
• Blindness12
• Cancer
• Cystic Fibrosis*
• End Stage Renal Failure
• Heart Attack
• Heart Valve Replacement*
• Major Organ Transplant
• Motor Neuron Disease*
• Stroke
• Sudden Cardiac Arrest*

Critical Injury

After the rider has been in force for 30 days if you are diagnosed with a qualifying condition as a result of an injury you will be eligible to receive a discounted portion of your death benefit. You may take all or part of the amount offered.

Critical Injury includes:

• Coma
• Paralysis
• Severe Burns
• Traumatic Brain Injury

No Additional Cost: All Policies Include Living Benefits

One of the best things about living benefits riders is that they are offered at no additional cost with all policies. This means you don’t have to pay extra to have access to your death benefit while you’re still alive. This includes Term, whole life, and IUL policies.

Consider Changing Your Old Policy

If your current policy doesn’t include living benefits, it’s time to consider changing to a new policy that does. With living benefits, you can have the security of knowing you have access to your death benefit while you’re still alive. Don’t wait until it’s too late to make the switch.

Share This Post With Your Friends

Do you know someone who could benefit from living benefits riders? Share this post with them and encourage them to consider a new insurance policy that includes living benefits. Together, we can help ensure that everyone has the protection they need during life’s most challenging moments.

Conclusion

Living benefits riders offer policyholders the security and peace of mind they need during life’s most difficult moments. With access to their death benefit, while they’re still alive, individuals and their families can have financial support when they need it most. And with no additional cost to all policies, there’s no reason not to consider adding a living benefits rider to your insurance policy today. Contact us today, at Wealth Financial Services & Products at 754-202-2300 or visit our Get a Quote, to set up a consultation.