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Living benefits

Living benefits

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:

Disability insurance

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.

Disability insurance:

  • Replaces your income in the event of sickness or disability
  • Ensures that you continue to earn an income even after you are unable to work
  • Ensures that your family’s standard of living and lifestyle are not interrupted

Critical illness insurance

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:

  • Pays a lump sum when you are diagnosed with one of a number of prescribed illnesses and conditions
  • Offers proceeds that allow you to travel for the best care and/or allow your family to take the time from work to be with you

Long-term care 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:

  • Covers the cost of care, either at home or in a facility
  • Ensures that you do not deplete your retirement savings to support your health care needs
  • Ensures that the burden of your care doesn’t fall to your family

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