Living benefits, in matters of life insurance services, can also be referred to as a Living Benefits Rider, and are an option when purchasing a life insurance policy.

As a consumer, you will feel more confident in the choice you make when purchasing a policy, therefore, you’ll benefit in gathering as much information as possible on what living benefits are when considering your life insurance policy. New Horizon Insurance will be with you to answer all questions and ease concerns while making such an important decision.

What are living benefits in a life insurance policy and how does the rider or clause work?

Living benefits are all or a portion of the death benefits the policyholder may receive before death. Think of the term accelerated benefits, another term to refer to living benefits.

There are stipulations to receiving living benefits, such as, the policyholder will generally elect on receiving the death benefits early if they are terminally ill or are facing a catastrophic illness, whereas the policyholder’s health insurance will not, or does not continue to cover expenses accrued through the illness.

Will a living benefit rider benefit you and your family?

Considering the costs associated with unexpected illness are not typically included in a household budget, yes, adding a living benefit rider to your life insurance policy is an extra layer of protection for your family.

These unexpected costs can deplete any financial stability your household has spent a career of hard work to achieve. By adding living benefits, there is layer of protection for your past investments and present.

New Horizon Insurance recommends adding a living benefit rider to your policy to protect your investments and have the money your family needs to continue fighting illness, if needed.

Please contact one of our representatives today to discuss your options.