Sentences with phrase «living benefit rider because»

It's also known as a type of living benefit rider because, as opposed to a death benefit — which gets paid out upon your death — the benefit is paid while you're still living.

Not exact matches

This rider is critical, particularly if you are considering life insurance for children or young adults, because if the insured develops a disease or become uninsurable during the policy period, the insurance company allows the insured to increase his or her total life insurance coverage and death benefit at specific times.

Many people are choosing this type of life insurance with long - term care rider because it provides coverage for LTC and a lump sum death benefit.

They're one - part insurance, delivering guaranteed lifetime income when an optional living benefit rider is added to the annuity, and one - part accumulation potential, because a portion of the owner's purchase payments is allocated to a mix of diversified investments that can provide long - term growth to help maximize future retirement income.

This living benefits rider is called an «accelerated death benefit» rider, because it allows the death benefit to be — that's right — accelerated.

Paid up additional life insurance is a great way to leave a legacy for your family because the rider will help your cash value grow and your death benefit.

Because you're tapping into the death benefit, ADB riders are often called «living benefit» riders.

We are going to focus on the accelerated death benefit rider because it is built into most term life insurance plans at no extra cost.

Disability Income Rider: The disability income rider is another very popular option because it is a living benefit.

Many people are choosing this type of life insurance with long - term care rider because it provides coverage for LTC and a lump sum death benefit.

The benefit of a disability income rider is that it allows a person with a life insurance policy to continue to receive coverage even if they can no longer pay the premiums due to a loss of income because of a disability.

This living benefits rider is called an «accelerated death benefit» rider, because it allows the death benefit to be — that's right — accelerated.

The rider may actually benefit less well - off clients the most, because they would least be able to cope with paying for life insurance if they became completely disabled.

This rider is critical, particularly if you are considering life insurance for children or young adults, because if the insured develops a disease or become uninsurable during the policy period, the insurance company allows the insured to increase his or her total life insurance coverage and death benefit at specific times.

Some life insurance policies might include a disability rider that pays a portion of your income or a monthly benefit if you are not able to work because of an illness or injury.

Unfortunately, you can not add an accelerated benefit rider to your existing insurance policy because the life insurance companies do not want to take the risk that you may already be sick or terminally ill.

For example, some people purchase a universal life insurance policy because it may have long - term benefits, but these people also add a term rider for more coverage because of more immediate needs like a large mortgage.