How life insurance can help now
By Carl Lishing, HealthMarkets Insurance Agency
Most people understand life insurance to be a financial tool that helps their loved ones when they pass away, providing needed funds for bills, college and more. What they may not realize is that life insurance can also be a vital resource to help support the policy holder while he or she is still alive.
By choosing a policy with a living benefit rider, you can help to protect the assets you’ve worked so hard to accumulate. This rider can provide early access to your life insurance policy’s death benefit when you have a qualifying condition and can be used to preserve your quality of life. It may not cost extra to choose a policy with this provision.
According to a 2019 study from the American Journal of Public Health, medical costs are a leading cause of bankruptcy. With a living benefit rider on your life insurance policy, three important coverage areas can provide early access to life insurance funds.
A living benefit rider may allow you to access up to a certain percentage of benefits should you be diagnosed with a covered illness or health condition. There are different types of living benefit riders that could cover various types of conditions and allow you to tailor the coverage around your needs.
January is a perfect time to do a policy review to ensure the coverage you have is the coverage that can meet your needs today, tomorrow and into the future. The best part is, sitting down with me to discuss your options doesn’t cost a thing. I look forward to hearing from you.
You can reach licensed insurance agent Carl Lishing at 216-228-0765. HealthMarkets Insurance Agency is located at 16506 Detroit Avenue, in Lakewood. Office hours currently by appointment. Find out more at ClevelandInsurance.info.
HealthMarkets Insurance Agency, Inc. is licensed as an insurance agency in all 50 states and the District of Columbia. Not all agents are licensed to sell all products. Service and product availability varies by state. Agents may be compensated based on enrollment. No obligation to enroll. HealthMarkets does not offer every plan available in your area. Any information they provide is limited to those plans they do offer in your area. Please contact Medicare.gov or 1–800–MEDICARE (TTY users should call 1-877-486-2048) to get information on all of your options. 50524-HM-1223 (*Source: TransamericaLBFAQol-3147-LB-FAQ[83])