The importance of Living Benefits
- Thongkhoun Pathana
- Sep 10, 2024
- 2 min read
What is critical, chronic and terminal illness.
Life insurance with critical illness coverage and living benefits provides financial protection for you and your loved ones in the event of a serious illness or death. Here's why it's important to protect:
1. Financial Security: Ensure your family's financial well-being, even if you're no longer around or unable to work due to illness.
2. Critical Illness Coverage: Receive a lump-sum payment upon diagnosis of a covered critical illness (e.g., cancer, heart attack, stroke), helping with medical expenses and living costs.
3. Living Benefits: Access a portion of your death benefit while still alive if you're terminally ill or have a severe medical condition, helping with final expenses or medical bills.
4. Income Replacement: Replace your income if you're unable to work due to illness, ensuring your family's lifestyle is maintained.
5. Medical Expenses: Cover out-of-pocket medical expenses, such as treatments, medications, and hospital stays.
6. Peace of Mind: Enjoy peace of mind knowing you've protected your loved ones' financial future.
7. Flexibility: Choose from various policy options and riders to tailor your coverage to your needs.
8. Tax-Free Benefits: Receive tax-free benefits, helping your loved ones keep more of the benefit amount.
9. Supplement Retirement: Use your policy's cash value to supplement your retirement income.
10. Estate Planning: Ensure your estate is passed to your heirs in a tax-efficient manner.
By investing in life insurance with critical illness coverage and living benefits, you'll be better prepared for life's uncertainties and can focus on what matters most – your loved ones.
TRUE STORY....How I became an agent for the Well Beings our family and loved ones.
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