Brightside Financial

Unlocking the Power of Living Benefits: Securing Your Future with Life Insurance, Argyle

learn how living benefits in a life insurance policy work

I recently returned from attending a Regional Five Rings Financial Conference, and the experience was truly inspiring. I had the privilege of speaking and that’s me in the picture on stage. The event filled me with renewed energy and a strong desire to assist others. Witnessing numerous powerful testimonies brought tears to my eyes. If you haven’t encountered the hardship of a loved one’s illness or passing, consider yourself fortunate. However, it’s important to acknowledge that life can take unexpected turns, and people may face health challenges or mortality. Unfortunately, most life insurance policies do not include living benefits.

Living Benefits hold transformative power for those who have them and need them, potentially making a life-or-death difference. You might be wondering, what exactly are Living Benefits? Each insurance company has varying payout structures. Nevertheless, the concept is straightforward: the more seriously ill you are (shorter life span) the higher the payout. The payout is based on the face amount of your policy. So essentially, if you have a qualifying illness or injury, you can get a pile of money while you’re still alive. You read that correctly, life insurance that you don’t have to die to get paid. Also, it’s tax-free money.

For example, if you have a $1,000,000 policy and the terms of your life insurance policy state that for a terminal case they will pay up to 90% of the policy if you have a qualifying event, you would receive an offer from the insurance company to pay you $900,000 now rather than paying your beneficiaries the $1,000,000 after death. The “catch” is that most of the insurance companies that offer living benefits discount the payout. But what if you’ve only been paying $100 per month for 2 years ($2,400)? That’s a pretty great Return on Investment! And this happens all the time!!

During the conference, I heard remarkable stories of individuals utilizing their living benefits. Some chose to seek alternative treatments abroad, due to treatments not being available in the U.S., and achieved full remission. Others decided to embark on a memorable vacation, covering the expenses for their entire family, ensuring one last unforgettable vacation before their health deteriorated beyond travel capabilities. These stories touched me deeply, and I couldn’t help but ugly cry.

What about you? Does your life insurance policy include living benefits? The reality is that many people don’t experience sudden death; instead, they face a gradual decline due to illness. This doesn’t solely affect the elderly—surprisingly, young and seemingly healthy individuals can suffer heart attacks or strokes, leaving them unable to return to work. Could you sustain your livelihood if you were unable to work? If you are interested in learning more about how living benefits can help you, please don’t hesitate to call or email me. Let’s schedule an appointment and explore your options.

Be well!

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