What is Living Benefits Insurance?
Unlike life insurance, living benefits insurance provides coverage that can be used to accomplish financial planning goals during your lifetime. Our team provides three primary living benefits insurance strategies as part of a broader wealth management plan: disability, long term care, and critical illness.
Critical Illness Insurance:
Critical illness insurance provides coverage against a number of serious health events such as cancer or heart attack. The policies provide a one time payment in the event of a covered condition that can be used for whatever the insured person requires. These policies can provide a family with considerable financial resources at a time when such an illness could otherwise be catastrophic.
Long-term Care Insurance:
Long-term care insurance provides an income style benefit in the event that you cannot take care of yourself due to an accident, aging, illness, or deteriorated mental capacity. You and your family can use the funds as you wish which can provide significant financial flexibility in a time of increased need.
Disability insurance protects your most valuable asset: your ability to earn an income. These policies are designed to replace a portion of your income stream if you become disabled, due to injury or illness, and are unable to earn an income. The coverage can be short term or long term depending on the needs of the client.
We’re here to Help:
If you are in need of proper living benefits insurance analysis as part of a broader wealth plan, we’d love to speak with you. Please feel free to contact our team (contacts below) to arrange a complimentary, no commitment consultation. Please refer to the "Living Benefits" overview attached below.