Discover Living Benefits
Explore how Living Benefits can help you secure a stable financial future for your family. Learn about options tailored to your needs and concerns.
Understanding Living Benefits
Living Benefits are advantages offered by some life insurance policies. They allow you to accelerate all or a portion of your policy’s death benefit under certain circumstances while you are still living. Living Benefits are included at no extra charge under some policies, or available for a small additional premium under others. The key advantage is that they allow you to access your policy’s benefits when they are needed most – during a difficult time. They allow you to avoid draining your savings, borrowing money, or creating a financial burden for your family.
When Can Living Benefits Be Accessed?
Living Benefits may normally be accessable if any of the following were to occur:
Critical Illness
A critical illness occurs when the insured experiences a critical condition such as cancer, stroke, heart attack, ALS, organ failure, etc.
Chronic Illness
A chronic illness occurs when the insured is unable to perform activities of daily living due to loss of functional capacity.
Terminal Illness
A terminal illness occurs when the insured is diagnosed with a medical condition that will result in the insured's death within 12 months.
Frequently Asked Questions
Your questions about Living Benefits answered here.
Living Benefits are valuable benefits of life insurance policies that allow the insured to access all or a portion of their policy’s death benefit under certain circumstances, such as being diagnosed with a critical illness, a chronic illness or terminal illness.
Living Benefits can normally be accessed if the insured is diagnosed with a critical, chronic or terminal illness. All or a portion of the death benefit is paid directly to the insured, is typically tax free, and can be used for whatever the insured desires, including payment of medical bills, living expenses, etc.
Being diagnosed with a critical, chronic or terminal illness can cause an extreme financial burden. By being able to access the death benefit, the insured is able to cover medical bills, living expenses and replace income that might be lost due to their condition. This avoids the need to drain savings, borrow money, or turn to family for help.
Living Benefits are available under most types of life insurance policies, including term life insurance, whole life insurance, mortgage protection insurance and universal life insurance. Depending upon your age, they may also be available under final expense insurance.
Living Benefits are included at no additional cost under some life insurance policies, or may be available for a small additional charge under others.
You need to be sure to advise your licensed life insurance agent that you are interested in Living Benefits. Here at Arizona Life & Annuities, we will be sure to ask if you are interested in them
Ready to secure your family's future today?
Your family’s financial security is our priority. We offer tailored solutions to help you and your loved ones prepare for the future. If you’re looking for trusted guidance on life insurance with Living Benefits, we are here to help. Reach out to us to learn more about our offerings and how we can assist you.