top of page
What are living benefits?
Living Benefits are also called Accelerated Benefits Riders (ABRs) that now come as free riders to many of the policies that our life insurance carriers provide. 2 out of 3 people over 65 will have a long term care (LTC) situation. The cost of LTC can run into the several thousands per month. The costs can put a significant dent in your retirement savings or put a loved one under serious debt.
The benefits are indemnified style which means they are paid directly to you without having to produce receipts. The benefit is unrestricted, once you qualify, you can use the benefit
for any reason.
Note: ABRs are not Long Term Care Insurance. While the proceeds from funds from ABRs can be used to fund some LTC expenses, they are not considered LTC insurance.
Benefits might be used for, but are not limited to:
Household expenses
Regular bills
Adult Day Care
Nursing home care
Home modifications
Quality of life expenditures
Living Benefits include:
Terminal Illness
Generally, if you have been diagnosed with a terminal illness that will result in death within 24 months of certification of the illness
by a physician.
Chronic Illness
A doctor has certified, within the past 12 months, that you are unable to perform two out of six “activities of daily living” for a period of at least 90 consecutive days without assistance, or that you are cognitively impaired.
Chronic Illness/Injury
Critical Illness includes:
• ALS (Lou Gehrig’s disease)
• Aorta Graft Surgery
• Aplastic Anemia
• Blindness
• Cancer
• Cystic Fibrosis
• End Stage Renal Failure
• Heart Attack
• Heart Valve Replacement
• Major Organ Transplant
• Motor Neuron Disease
• Stroke
• Sudden Cardiac Arrest
Critical Injury includes:
• Coma
• Paralysis
• Severe Burns
• Traumatic Brain Injury
Activities of Daily Living
Bathing
Eating
Continence
Toileting
Dressing
Transferring
Critical Illness/Injury
Critical Illness includes:
ALS (Lou Gehrig’s disease)
Aorta Graft Surgery
Aplastic Anemia
Blindness
Cancer
Cystic Fibrosis
End Stage Renal Failure
Heart Attack
Heart Valve Replacement
Major Organ Transplant
Motor Neuron Disease
Stroke
Sudden Cardiac Arrest
Critical Injury includes:
Coma
Paralysis
Severe Burns
Traumatic Brain Injury
bottom of page