07/25/2019
CRITICAL ILLNESS * HEART ATTACK
EVA always dreamed of owning her own small business, and at age 40 she finally made it happen with the help of a loan of $250,000. That spurred her decision to purchase a LIVING BENEFITS, 25-year term life policy for the same face amount as her loan, in case anything unexpected should happen to her. She couldn’t believe the premium payments were under $45 per month. Eight years later, Eva suffered a serious heart attack, and that critical illness diagnosis had a major impact on her life expectancy. She was happy she had the ability to access funds by accelerating her death benefit in order to help with her medical bills.
EVA’S LIVING BENEFITS IN ACTION ILLUSTRATED SCENARIO
Profile: Female, Age 40, Standard, Nonsmoker
Initial face amount: $250,000
Monthly premium: $44.51
Event: Heart attack at age 48
Life expectancy impact: Severe
ADB min/max: Maximum: The lesser of 90% of the policy face amount or $1,500,000
Minimum: $2,500
Cash payout from ADB: Age 48: $134,552
Face amount remaining
after ADB exercised: $25,000
Premiums paid to age 48: $4,272.96
