What are Living Benefits?

Millions of Americans own life insurance, all preparing to do one thing - Die. The traditional approach to life insurance involves renting your insurance policy for a specified term of years, buying permanent life insurance for death protection only, and saving with the insurance company. This traditional mindset has been burned into the American psyche…but there is a better way.

Living Benefits, also known as Accelerated Benefit Riders (ABRs), are optional, no-additional-cost riders that can allow you to access all or part of the life insurance death benefit while you are living in the event of a qualifying terminal illness, chronic illness, critical illness, critical injury, or a qualifying diagnosis of Alzheimer’s Disease or Lewy Body Dementia.

The Protection From Life Interrupted that is offered by Living Benefits allows you to: stay in your home and maintain your standard of living, get money from your death benefit for serious qualifying illness or injury, potentially supplement your retirement savings, potentially cover college costs, and more.

Importantly, Living Benefits may be used any way you choose, including to pay for costs such as: medical expenses, travel, home modifications, living expenses, and more.

The rules have changed. Traditionally you bought individual coverage for each threat faced in life. This led many families to spend north of $800 per month in many cases, simply on protection. The new way manes you can buy one policy, offering multiple benefits, by paying one premium - often $300 or less.

The right kind of life insurance covers multiple needs with one combined solution: disability income, accelerated living benefits, life insurance, and retirement income. Living benefits make our life insurance special. They pay you for terminal illness, chronic illness, critical illness, critical injury, and Alzheimer’s Disease/Lewy Body Dementia. This is what we mean by life insurance that you do not have to die to use.

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