Life Insurance is for the
Living ...
both for the beneficiary AND the policyowner. Read this success story about the living benefits of life insurance and consider how a rider providing living benefits could help secure the financial future for your family.
Living Benefits:
Jim and Karen have always been diligent about planning for their future. They decided to purchase life insurance when they found out Karen was pregnant with their first child more than 30 years ago. Through the years, they have added more life insurance and riders to ensure all their changing needs were met.
the life insurance
One of the riders that Jim added to his life insurance policy was a rider providing living benefits, which can help preserve assets and secure independence. Just a few years after adding this rider, Jim was diagnosed with Amyotrophic Lateral Sclerosis (ALS), also known as Lou Gehrig’s disease.
confirmed by a
Although he couldn’t have predicted the future, through this rider, Jim was able to ensure that a portion of his life insurance death benefit was prepaid when a qualifying medical event was confirmed by his physician. This allowed him to protect his hardearned assets and live the way he desired with his debilitating illness. This rider also took some of the financial burden away from his family. Eventually Jim was confined to an eligible nursing home and the rider helped offset expenses associated with his care.
assets while living with
After battling ALS for 5 years Jim succumbed to the disease, but left his family financially secure through the purchase of life insurance and the subsequent riders on those policies. Jim’s two children were able to attend and graduate college because of the proceeds of their father’s life insurance policies. Jim’s daughter Lisa was even able to attend medical school and is now performing research on medical treatments for ALS.
expenses of care
A rider providing living benefits allows the policyowner to receive a portion of death benefit once the insured’s qualifying medical event is physician. This also allows the policyowner to protect hard-earned a debilitating illness or injury. This type of rider can also help offset if the insured is confined to an eligible nursing home.
Jim and Karen’s foresight to purchase life insurance protected their family financially and even provided for the education of their children.
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