Monday, February 27, 2012
Living Benefits in Life Insurance: If you suffer a heart attack, stroke, or cancer . ...
Living Benefits in Life Insurance: If you suffer a heart attack, stroke, or cancer . ...: If you suffer a heart attack, stroke, or cancer, is your family financially prepared? Wait a minute . . . are we talking about life insura...
If you suffer a heart attack, stroke, or cancer . . . so what?
If you suffer a heart attack, stroke, or cancer, is your family financially prepared? Wait a minute . . . are we talking about life insurance? Yes, it's true! Life insurance with living benefits can provide you much needed cash if you have a heart attack, stroke, or cancer. This is what 'living benefits' in life insurance can do for you. It's taken life insurance to a whole new level. You don't have to wait to die . . . it's there to help you continue to live your life. Heart attacks, strokes, cancer, and other qualified events fall under the Critical Illness rider. This is a new feature of life insurance and not many companies offer this type of protection, especially on term life policies.
Contact me for more information, and I will tell you which companies offer chronic, critical, and terminal illness protection on term and universal life plans at no additional cost: caguilar@silverstarfinancial.com, 702-353-0775.
Contact me for more information, and I will tell you which companies offer chronic, critical, and terminal illness protection on term and universal life plans at no additional cost: caguilar@silverstarfinancial.com, 702-353-0775.
What are Living Benefits?
Living benefits in life insurance . . . Life insurance is no longer about death and dying. Today, a good policy will offer 'living benefits'. You no longer have to pass away in order to trigger a payment from a life insurance policy. Today's life insurance policies may contain living benefit riders that include: Terminal Illness, Chronic Illness, and Critical Illness riders.
There is only one company that I know that is offering all three living benefits included at no extra cost on both term life and universal life plans.
Ask your insurance company if they offer all of these living benefits and if there is any additional cost for each rider. Then ask if they have it on term life plans as well as universal life plans. Let me know if your company has the complete package! caguilar@silverstarfinancial.com
There is only one company that I know that is offering all three living benefits included at no extra cost on both term life and universal life plans.
Ask your insurance company if they offer all of these living benefits and if there is any additional cost for each rider. Then ask if they have it on term life plans as well as universal life plans. Let me know if your company has the complete package! caguilar@silverstarfinancial.com
What is a Terminal Illness?
Terminal illness is defined as an illness or physical condition that is certified by a physician to be reasonably expected to result in death within a certain time frame.
A terminal illness rider is now very common in life insurance policies. Basically, if a physician says that a person only has, for instance, 6 months left to live, and he or she were covered by a life insurance policy with terminal illness protection, this person would be able to accelerate his death benefit and receive money prior to his passing away. By accelerating the death benefit, this would mean that the insured would receive less than the face amount of the policy.
Example: A person is diagnosed with terminal cancer and has only 12 months left to live. He has a life insurance policy worth $100,000. He would be able to file a claim and accelerate his death benefit. The company approved his claim and offered him an accelerated death benefit of $75,000
A terminal illness rider is now very common in life insurance policies. Basically, if a physician says that a person only has, for instance, 6 months left to live, and he or she were covered by a life insurance policy with terminal illness protection, this person would be able to accelerate his death benefit and receive money prior to his passing away. By accelerating the death benefit, this would mean that the insured would receive less than the face amount of the policy.
Example: A person is diagnosed with terminal cancer and has only 12 months left to live. He has a life insurance policy worth $100,000. He would be able to file a claim and accelerate his death benefit. The company approved his claim and offered him an accelerated death benefit of $75,000
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