Disability Insurance
What would happen to your family if you have a terminal, chronic or critical illness?
Any of these diagnoses will dramatically affect your ability to work and provide for your family as you are so used to doing. So how can life insurance help you while you’re still alive?
The Living Benefits of Life Insurance
Over time, your permanent life insurance policy or your term life insurance policy accumulates equity or cash value along with tax advantages. If you have a special Accelerated Benefit Rider* on your policy—which can be added at no cost to you—you will be able to access some or all of your policy’s cash value should you be diagnosed with a terminal, chronic or critical illness. The wording of the rider must state specifically the types of life events that qualify for accelerated benefits.
Talk to your Lions Insurance agent about adding this no-cost rider to your new life insurance policy. Aptly known as living benefits, this special “what if” protection for major illnesses can be used to help pay medical costs or to cover other expenses that occur when you’re no longer able to work. You can choose to access the cash value as a tax-free loan from your policy or as a tax-free withdrawal.
An Accelerated Benefit Rider Can Cover these Life-Changing Events
- Terminal illness when death is expected within a specified period, usually six months to one year
- A specified catastrophic illness or the need for extraordinary medical intervention, such as an organ transplant, or the need for continuous life support
- The need for long-term care due to the policyholder’s inability to perform a number of "activities of daily living" such as bathing, dressing and eating
- Permanent nursing home confinement
Please note that your accelerated benefits payment will be deducted from your death benefit when it is ultimately paid to your beneficiary.
Request a Life Insurance Quote Today!
How much life insurance is enough to protect your family?
Call 818-265-0777 or Request a Quote Now!
One of our friendly insurance specialists will answer all your questions and help you choose the right amount of coverage and the best type of protection for your family. Lion’s Insurance in Glendale, CA, works with leading carriers to provide you with the best insurance products for your family’s ultimate protection. We look forward to helping you!
*Payment of Accelerated Benefits will reduce the Cash Value and Death Benefit otherwise payable under the policy. Receipt of Accelerated Benefits may be a taxable event and may affect your eligibility for public assistance programs. Please consult your personal tax advisor to determine the tax status of any benefits paid under this rider and with social services agencies concerning how receipt of such a payment will affect you, your spouse’s and your family’s eligibility for public assistance.
