living benefits
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Life insurance can be a Powerful Financial Engine that can be used to protect and secure you financially. Living Benefits are optional, no-additional cost, riders that can give you access to cash, while you are living, if you experience a qualifying illness or injury. A Smart Living Financial professional can help you secure the lifestyle you want in case you live a long life, have access to Living Benefits in case of illness, or leave a Legacy in case of early death.
...secure TOMORROW
LIVING BENEFITS provide cash in the event of:
CHRONIC ILLNESS
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What qualifies?
A doctor has certified, within the past 12 months, that you are unable to perform two out of six “activities of daily living” for a period of at least 90 consecutive days without assistance, or that you are cognitively impaired. Activities of Daily Living 1. Bathing 2. Continence 3. Dressing 4. Eating 5. Toileting 6. Transferring |
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Receiving your benefit
Generally, the rider needs to be in force for a period of two years. There is an annual limit on the amount of benefits you can receive. There is also a lifetime limit on the amount of benefits you can receive across all Accelerated Benefits Riders.
Here if you need it
Note that you do not have to be in a licensed facility to receive payments, and that you can apply for benefits every 12 months. Benefits can be used for any reason and do not need to be used for medical expenses.
If you should need it, and you qualify, after the waiting period you can:
• Accelerate portions of your death benefit every year to receive
benefit payments.
• Leave the policy intact for your beneficiary.
Generally, the rider needs to be in force for a period of two years. There is an annual limit on the amount of benefits you can receive. There is also a lifetime limit on the amount of benefits you can receive across all Accelerated Benefits Riders.
Here if you need it
Note that you do not have to be in a licensed facility to receive payments, and that you can apply for benefits every 12 months. Benefits can be used for any reason and do not need to be used for medical expenses.
If you should need it, and you qualify, after the waiting period you can:
• Accelerate portions of your death benefit every year to receive
benefit payments.
• Leave the policy intact for your beneficiary.
CRITICAL ILLNESS OR CRITICAL INJURY
WHAT QUALIFIES?Critical Illness includes:
• ALS (Lou Gehrig’s disease) • Aorta Graft Surgery • Aplastic Anemia • Blindness • Cancer • Cystic Fibrosis • End Stage Renal Failure • Heart Attack • Heart Valve Replacement • Major Organ Transplant
• Motor Neuron Disease • Stroke • Sudden Cardiac Arrest |
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Critical Injury includes:
• Coma
• Paralysis
• Severe Burns
• Traumatic Brain Injury
• Coma
• Paralysis
• Severe Burns
• Traumatic Brain Injury
TERMINAL ILLNESS
What qualifies?
Generally, if you have been diagnosed with a terminal illness that will result in death within 24 months of certification of the illness by a physician.
Receiving your benefit
The benefit payment will be a lump sum. There is no waiting period or annual benefit limit, but there is a lifetime limit on the amount of benefits you can receive across all Accelerated Benefits Riders.
Here if you need it
You can elect to either:
• Request the full acceleration, on a discounted basis, and use the lumpsum as you wish.
• Choose to leave a portion of the policy’s death benefit intact and receive a partial benefit.
• Choose to leave the entire policy intact for your beneficiary.
Generally, if you have been diagnosed with a terminal illness that will result in death within 24 months of certification of the illness by a physician.
Receiving your benefit
The benefit payment will be a lump sum. There is no waiting period or annual benefit limit, but there is a lifetime limit on the amount of benefits you can receive across all Accelerated Benefits Riders.
Here if you need it
You can elect to either:
• Request the full acceleration, on a discounted basis, and use the lumpsum as you wish.
• Choose to leave a portion of the policy’s death benefit intact and receive a partial benefit.
• Choose to leave the entire policy intact for your beneficiary.
Since these benefits are unrestricted, once you qualify, you can use the money for any other need, including for:
• Household expenses
• Home renovations
• Regular bills
• Quality of life expenditures
• Nursing home care
• Adult Day Care
• Any other personal needs
• Household expenses
• Home renovations
• Regular bills
• Quality of life expenditures
• Nursing home care
• Adult Day Care
• Any other personal needs
