Thu, May 27, 2021

Protection for the What-Ifs

Get the peace of mind you need.


A Health Crisis

When a serious health concern arises, like an unexpected chronic illness, the road to getting better may take a while, and expenses can begin to add up - to the point that it can affect how you plan for your financial future and your retirement years.


HOW DO YOU PLAN on covering some of your expenses if you become chronically ill?

Home health core (home health aide) $50,336 per yeor

Adult day health care $18,720 per year

Assisted living facilities (one bedroom, private room) $48,000 per year

Nursing home (private room) $100,375 per year

Consider the varying expenses associated with traditional care.

It's important to protect yourself. With a fixed index universal life (FIUL) insurance policy, you have death benefit protection for your loved ones as well as a Chronic Illness Accelerated Death Benefit Rider.

With the Chronic Illness Accelerated Death Benefit Rider, you have the option to accelerate a portion of your death benefit if you become chronically ill. The rider is included with your policy, subject to
age and underwriting requirements,2 so protection is there when you need it most. Although there is no cost to have the rider on the policy, there is a charge if and when the rider is exercised.
The cost of the rider is based on age, premium class, current cash value, and current discount interest rate at the time of acceleration.

Keep in mind, for individual FIUL insurance policies, the insured individual may accelerate the benefit when eligibility requirements are met. For a second-to-die policy, only the last surviving insured may accelerate the benefit, should they become eligible. The Chronic Illness Accelerated Death Benefit Rider offers the flexibility and control to address some of
the most important questions, like:

  • How will I protect my assets and my lifestyle if I become chronically ill?
  • Will I become a burden to my loved ones if I cannot care for myself?

A chronic illness can quickly derail your plans, especially during your retirement years. Let's take a closer look at how you could accelerate a portion of your death benefit to help cover expenses if you became chronically ill.

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