09/26/2022
"Living benefits essentially allow the insured to access money from the policy’s death benefit while they’re still alive. These funds can be used to pay for expenses associated with terminal or chronic illness, such as medical care, hospice or nursing home care, in-home caretakers and more. The trade-off is that accessing living benefits reduces the death benefit available to your beneficiaries when you die."
Most people buy life insurance so that their loved ones have financial security if they die. But life insurance could also benefit you while you’re still alive. Some life insurance policies come with living benefits—funds you can tap into while you’re still alive. These living benefits exist t...
