Living Benefits
What would happen to you if you live beyond your assets?
In the United States, men and women are living longer and living more of their life in better health than ever before. There are now 35 million Americans over 65 years of age.
In October, 2014, USAToday reported that the average woman who was 65 years old in 2012 will live to celebrate her 85th birthday, and the average man will celebrate his 83rd birthday. The 2010 U.S. Census Bureau statistics reported there were over 53,000 Americans 100 years and older, representing a 64.8% growth over a 30-year period.
The Living Benefits of Life Insurance
Great strides in health and longevity are welcome news, but there can be a downside to longevity, especially if you outlive your assets.
A life insurance policy from Lions Insurance can be used as a financial planning tool to provide the added protection of additional retirement income. You can access the cash value of your policy in three different ways:
- Immediate access to your death benefit — You can access the cash value of your lifeinsurance policy to meet your retirement needs.
- Lifetime Income Benefit Rider* — One of the most popular riders and financial planning tools for seniors who are beginning to outlive their assets, the Lifetime Income Benefit Rider can be added to your new life insurance policy at no additional cost to you. The rider allows you to receive regular income from the accumulated cash value of your life insurance policy while you are living, and it is guaranteed payable for life.
- Cash Value of your Policy — You can access the cash value of your policy tax-free by making withdrawals or taking out a policy loan.
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 against life’s unplanned “what if’s.” 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.
