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Will your life insurance pay you if you have a heart attack, stroke, or cancer and live.....?
Did you know that in 2007, over 62% of personal bankruptcies were related to medical expenses and that of those who filed bankruptcy,75% had health insurance...? This includes individuals who had more than $5,000 in medical bills (or 10% of their pretax income), mortgaged their home to pay for medical expenses, or lost significant income due to a serious illness. (1)
So even if you have health insurance to pay for your medical expenses, can you afford to lose significant income to recover?
Here are some startling statistics:
We belive that your life insurance should provide you with LIVING BENEFITS, not just a death benefit!
What we see is that most people who have life insurance really have death insurance - a benefit that will pay the beneficiaries only if you die.
How can you protect against an unforeseen illness? The future is unpredictable.... are you and your family fully prepared?
We believe that you should have access to benefits you can use while you're still living. We can provide you with protection that affords you the peace of mind that Living Benefits can provide. Our Living Benefits provide a combined solution that you can afford to have but you cannot afford to be without. We call this "Life insurance you don't have to die to use."
You can access your policy's benefits while you are still living which may include coverage in case of:
You may experience any of these life events without warning. With a policy with Living Benefits, YOU decide how and when to use its benefits. We offer you more than just a death benefit, we help you insure your life!
You also get access to your policy's cash value to plan for major life events such as college education, a down payment on a house, purchasing a car, or retirement income. These benefits, along with other optional benefits, are built into the policy as riders that give you the flexibility to customize your policy based on your needs. So instead of having separate policies for life, critical illness, disability, or long-term care, you can combine all of these benefits into one policy that grows with you over the years.
We can design a customized policy based on your budget and needs as part of our planning process. Let us know how we can help you prepare for life's unexpected events!
Information provided in this website is intended for policies issued to residents of the State of California only. Some states may have different options and requirements. The benefits mentioned on this website may not be available in all states or on all policies. It's important to determine what your state-specific requirements are.
Receipt of accelerated benefits will reduce the poliy's death benefit and cash value and may result in a taxable event. There are no restrictions on how the benefit received is used. Accelerated benefit riders are available at no additional cost.
Loans and withdrawals will reduce the policy's Cash Value and Death Benefit and may result in a taxable event. Surrender charges may reduce the policy's Cash Value in the early years.
Benefits are not all inclusive. The use of one benefit may reduce or eliminate other benefits.
All riders except for the Accelerated Benefits require an additional premium. Riders are optional and may not be available in all states or on all products.
Living benefits are intended to qualify for favorable tax treatment under the Internal Revenue Code of 1986. Whether such benefits qualify depends on factors such as your life expectancy at the time benefits are accelerated or whether you use the benefits to pay for necessary long-term care expenses, such as nursing home care. If the acceleration of life insurance benefits qualify for favorable tax treatment, the benefits will be excludable from your income and not subject to federal income taxation. Tax laws relating to acceleration of life insurance benefits are complex. You are advised to consult with a qualified tax advisor about circumstances under which you could receive acceleration of life insurance benefits excludeable from income under federal law.
Receipt of accelerated life insurance benefits may affect you, your spouse, or your family's eligibility for public assistance programs such as medical supplementary Social Security Income (SSI) and drug assistance programs. You are advised to consult with a qualified tax advisor and with social service agencies concerning how receipt of such a payment will affect you, your spouse, and your family's eligibility for public assistance.
Death benefits, cash values, and loan values (for policies with such values) will be reduced if an accelerated benefit is paid.
There may be limitations on the amount of the death benefit that may be accelerated under all accelerated benefit riders applying to the same insured, and these limitations may be changed in the future.
For costs and complete details of the coverage, contact your agent. None of the information on this website is intended as tax or legal advice. Please consult with your attorney or accountant prior to acting upon any of the information contained in this website.
This is a solicitation of insurance. An insurance agent may contact you.