Death isn’t the only thing to Life Insurance. There are living benefits there that you should be aware of.  It is why people perish from knowledge. To comprehend life insurance with living benefits, it is crucial to possess adequate knowledge about the subject.

1: Permanent Life Insurance Builds Cash Value Over Time. Whole life is one type of permanent insurance, Universal and Index Universal a few others. It’s a living benefit you can borrow against or use to pay premiums if needed.

2: Critical Illness Coverage Pays Lump-Sum for Medical Bills. Diagnosed with a serious illness and critical illness coverage pays a lump sum. Cancer, heart attack, stroke, renal failure, brain aneurysm to cover medical bills or other expenses to name a few.

3: Disability Income Coverage Provides Regular Income if You’re Unable to Work. Disability income coverage pays a regular income if you become disabled and can’t work. On average, you can typically cover 60% to 70% of your income.

4: Accelerated Death Benefit Pays Out for Terminal Illnesses.  It pays a portion of your death benefit if you’re diagnosed with a terminal illness. Typically, the accumulation of bills start to pile up.  Ensuring that payments are made on time is crucial to continue receiving the necessary care.

5: Long-Term Care Coverage Helps Plan for the Future. Long-term care provides a regular income if you require long-term care in a nursing home or assisted living facility. It ensures you have the financial resources you need to cover your care.

Conclusion: Life insurance offers living benefits that provide valuable financial protection for you and your family. Consider speaking with a life insurance professional to find a policy that meets your specific needs.