Life Insurance with Living Benefits
✔ Allows you to access 75% of your death benefits in case of critical conditions
✔ Allows you to access cash on a monthly basis in case of chronic illnesses
✔ Allows you to grow tax free cash account value in the long run
✔ Allows you to create lifetime income benefits
✔ Allows you to become your own bank
There are so many exciting events that may happen in our lifetime, such as a graduation, wedding or even buying a new house for the first time. All of these events are milestones that we have planned, prepared and worked hard for. However, there are times in our lives where unfortunate events may also take place. No one plans to be sick, but it is important to have proper health coverage to ensure that you will be able to afford treatment.
If somebody is ill for an extended period of time, especially due to critical conditions such as a heart attack, cancer, or stroke, chances are that individual's access to full time income will be limited. The majority of working individuals may solely rely on state benefits through EDD.
For many people living pay check to pay check, suffering from a critical illness is especially detrimental. How will they cope if their illness disables them from earning full time income? These unfortunate life events could be devastating to you and the people who rely on you. If you rely on government benefits during critical and chronic illnesses, chances are your personal savings would be affected as well. Your health insurance will surely pay for your medication and hospitalization, but who would be there to help you pay for your day to day living expenses (such as mortgage, car, groceries, and more)?
The life insurance industry has changed significantly as it now focuses on providing benefits to the insured, as opposed to beneficiaries only. What this means is: with the right financial planning, the coverage that you have can be converted to a lump sum amount to help you overcome your illness, focus on your health and return to your normal lifestyle. Contact us to schedule a free consultation to see how we can help you with your financial planning.