Not only do insurance products benefit your estate, some of them are designed to meet your needs while you live. Living benefits products help protect your wealth and give you the financial freedom to maintain your lifestyle or to obtain the care that you require in the event of an injury or illness.
Choose from the links below for an overview of living benefits:
The greatest asset most of us possess is our ability to earn an income. Why not insure such a valuable asset, which is worth much more than your car, house and jewelry all put together? Also ask yourself how long your portfolio would last if you needed to create a lifetime income. A disability insurance policy will provide a tax-free income stream to replace your future earnings.
What are the chances that you might develop life-threatening cancer or suffer a heart attack? If either of those occurs, your finances will be put to the test; your family may need to leave work to care for you, or you may decide to seek expensive private care. In any event, critical illness insurance provides a lump sum that you can use to combat any one of up to 22 specified conditions, or in any other way that you see fit.
Critical illness insurance:
With advancing medical breakthroughs, there is a greater chance than ever that we will grow very old. With old age comes a strong possibility that we may not be able to care for ourselves. Many people will require special care, either from a specialized individual who visits you, or in a special care facility.
Long-term care insurance: