Sentences with phrase «access to the death benefit while»

Similarly, this is why the employee is only paying the amount of applicable term insurance if they are only receiving access to the death benefit while the employer has access to cash values.

Should you be diagnosed with a terminal illness, this will allow you access to your death benefits while you are still alive so you can pay your medical expenses.

As the cost of traditional long - term care insurance (LTCI) has dramatically increased, linked benefit and life insurance policies with riders that allow access to the death benefit while alive have gained a lot of attention as alternative strategies.

Not exact matches

Had the individual purchased permanent life insurance, he or she could have access to a potentially significant source of supplemental retirement income in the future (depending on the policy type), while preserving the death benefit in perpetuity (note, however, that the death benefit and cash value of a policy is reduced in the event of a loan or partial surrender, and the chance of lapsing the policy increases).

CT lung cancer screening is deemed an Essential Health Benefit, covered by many private health insurers, while Medicare beneficiaries have lesser access to these exams and increased risk of lung cancer death due to lack of coverage.

Allows the insured to access the death benefit payout while still living if he / she is diagnosed with terminal illness and needs to use the cash to cover the costs of care.

Whole life insurance — a type of permanent policy — may be an option for people looking for a death benefit in addition to cash value that can be accessed while they are living.

If you're diagnosed with a terminal illness, this lets you access your death benefit while you're still alive so you can use it to pay for medical expenses.

As such, this rider allows you to access 100 % of your death benefit while living.

Accelerated death benefit: the accelerated death benefit rider allows a portion of the death benefit to be accessed while you are still alive if you are diagnosed terminally ill or confined to a nursing facility.

This will allow you to access some of your death benefit while living if you are diagnosed with a terminal illness that will cause death within 12 months

Also, an insured may also be able to access money from the policy's death benefit while they are still living to help pay expenses if they are diagnosed with a terminal illness and if they are confined to a nursing home.

If you're diagnosed with a terminal illness, this lets you access your death benefit while you're still alive so you can use it to pay for medical expenses.

Older adults might not have their needs fully covered with health insurance, and while some life insurance policies come with riders that let policyholders access the death benefit early in cases of terminal illness, it won't be available to them to cover long - term care services like nursing homes or at - home care.

Some plans allow policyholders in certain circumstances to access their own death benefits while they're still alive, though it can be tricky and costly.

Mutual of Omaha, an A + rated company founded in 1909, offers competitive underwriting for a range of health conditions, including high limits for accelerated death benefits, allowing those who have been diagnosed with terminal illness to access a portion of their policy's death benefit while still alive.

In short, if an insured has been legally declared terminally ill, with a time frame of 12 - 24 months or less, they will be granted access to a portion of the death benefit proceeds while they are still alive.

When added to the Secure Lifetime GUL 3 life insurance policy, the policyholder may be able to access a portion of the policy's death benefit funds while he or she is still alive.

While living, you can count on level premiums, level (or growing) death benefits, cash growth in a tax advantaged way, access to that cash when needed or intended, additional dividends or even growth through stock markets, and more.

Had the individual purchased permanent life insurance, he or she could have access to a potentially significant source of supplemental retirement income in the future (depending on the policy type), while preserving the death benefit in perpetuity (note, however, that the death benefit and cash value of a policy is reduced in the event of a loan or partial surrender, and the chance of lapsing the policy increases).

Some of these features include access to the funds if the owner is confined to a nursing home, 10 % to 20 % free withdrawals each year for any reason, increased value as a death benefit, and higher interest earning guarantees while taking a fixed income stream that includes the ability to stop at any time and continue the annuity.

Prudential takes it a step further and allows their policyholders to access their death benefit while they're still living if they have a chronic illness, and are confined to a nursing home, with the expectation that they will remain there.

This means that he or she could access the policy's death benefit proceeds, while still alive, for expenses that are related to a terminal illness diagnosis and confinement in a nursing home.

It's added coverage to a life insurance policy that allows you access part of your death benefits while you are alive if you meet the requirements which usually include being diagnosed with a terminal illness with less than 6 months to live.

Accelerated benefit riders can allow policy holders to access the death benefit in their life insurance policy while they are still living if they meet certain conditions.

In the event that someone is diagnosed with a terminal illness, North American Life allows access up to 75 percent of the death benefit while you are alive.

Many of these plans will also offer the ability to access the death benefit funds while the insured is still living if he or she has been diagnosed with a terminal illness.

Adding a long - term care rider (or a living benefit rider) to your policy gives you access to a portion of your death benefit while you're still alive, and can help cover you in the event you need long - term care in the future.

Both riders will allow you to access some of your death benefit while you are still alive.

«The first fact is that term insurance is strictly a death benefit, while permanent whole life can be structured to have a death benefit, a cash benefit, AND living benefits you can access and utilize before you die.

In case you suffer a terminal illness and need to cover expenses while you are still alive, you can do access your death benefit

Today, many life insurance policies will also allow policyholders to access a portion of the death benefit for certain needs while the insured is still alive.

• A long - term care rider, or «accelerated death benefit» that gives policyholders access to the cash from the death benefit while they are still alive if they have been diagnosed with a terminal illness.