LIFE INSURANCE
LIVING BENEFITS
Life Insurance with Living Benefits
Do More With Your Life Insurance Policy.
More For The Same Price: Living Benefits give your clients more options, more flexibility, and more protection - all for the same price as an old-fashioned life insurance policy that only pays out if you die. It's a no-brainer. Why would you offer anything else? And guess what? We work with the best carriers in the business.
LIVING BENEFITS Q&A
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.
What's 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 Your Clients Need 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.
LIVING BENEFITS
THE SMARTPHONES OF LIFE INSURANCE
InTouch agents are able to offer a full portfolio of life, health, annuity and ancillary products to help meet a variety of needs for individuals, families, professionals and business owners. When it comes to Life Insurance, one of our flagship carriers helped pioneer the concept of “Living Benefits” and the idea that life insurance is not just a "death benefit", but also a product aimed at protecting the living.
Learn more about this solution that will help you, help others.