Living Benefits Life Insurance.
Living Benefits are the NEW kind of life insurance. In short, it's life insurance you don't have to die to use.
What is Living Benefits Life Insurance?
Living Benefits life insurance represents a modern twist on life insurance coverage. A policy featuring living benefits riders (also known as accelerated benefit riders, or ABRs) will grant “early access” to the policy’s death benefit while the insured party is still alive if they are to suffer any of the triggering conditions contained in that policy’s living benefits riders.
How do Living Benefits Work?
Once a qualifying health event has occurred on an active policy, a Living Benefits policy will allow the insured party to accelerate the death benefit, essentially allowing early access to the policy’s death benefit at a discounted rate. That discount will vary depending on the severity of the illness or injury. The more impact the health condition had on the insured’s life expectancy going forward, the more money they will be offered per given amount of death benefit.
For example, a client with a $500,000 Term policy who suffers a major, life-threatening cancer diagnosis may be offered $400,000 in exchange for accelerating their full $500,000 policy. On the other hand, a client who suffers a minor heart attack and whose prognosis is very positive may only be offered $100,000 in exchange for the full $500,000 acceleration. In all cases, it is the client’s decision of whether to accept the offer and take the money or leave the full death benefit in place. In many cases, it’s even possible for the client to accept a partial offer and get some money in their hands while leaving a portion of death benefit in place for the future.
What is covered by Living Benefits?
ABRs and triggers can vary widely between insurance carriers and products, so it’s important to be educated on what riders are included any Living Benefits policy you may be considering and know what conditions would qualify for a Living Benefits claim. The top Living Benefits products out there will offer all of the following ABRs and associated triggers at no extra premium cost:
Terminal Illness: 1-2 years expected to live
Chronic Illness: Unable to perform 2 of 6 activities of daily living OR severe cognitive impairment
Critical Illness: Cancer, heart attack, stroke, major organ transplant, kidney failure
Critical Injury: Paralysis, coma, major burns, severe brain injury
Why own Living Benefits?
In this day and age, it always makes sense to have Living Benefits included as part of your life insurance policy.
Compared to traditional life insurance, which only pays out the death benefit if you die, Living Benefits provide you with more options and more access to your policy’s benefits in more scenarios. Any Living Benefits claim offer can always be declined if you wish, but having options is always better than not having options, especially after a major unexpected health event.
How do I get Living Benefits?
At Alliance Group, Living Benefits are kind of our thing. Reach out to us – we can connect you with our network of licensed Living Benefits experts who can audit any current coverage you have and make sure your family has the most modern and up-to-date coverage available.
Life Insurance with Living Benefits has helped thousands of Alliance Group Clients.
Don't just take our word for it! Watch our real clients tell their amazing and inspirational stories.
See the story below - and make sure to visit our testimonials page and our YouTube page for more amazing stories!
Rickson Amorim had built a successful career helping his clients protect themselves with a revolutionary new kind of life insurance. He never imagined he would find himself utilizing his own Living Benefits policy after an out-of-the-blue medical emergency. Watch as Rickson and his wife Bianca tell the harrowing story of a sudden, unexplained cardiac arrest that left him clinging to life in a coma. His Living Benefits life insurance policy paid out over $250,000, leading to a miraculous recovery and ensuring a bright, healthy future for Rickson and his new bride.
Rickson & Bianca Amorim
Agent, Heart Attack Survivor
See it in action...
Living Benefits have been around for 20 years, yet most Americans still don't know what they are or what they do. Living Benefits allow policy-holders to access their death benefit to get money in their hands when they need it most if they suffer a heart attack, stroke, cancer, or other qualifying illness. And the best part is, these benefits come at NO EXTRA COST.Get Covered!