LIFE INSURANCE WITH LIVING BENEFITS
Post By: Patrick Kasperitis
Last Updated: 6/23/25
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When most people think of life insurance, they imagine a policy that only pays out after death. But modern policies can do so much more. If you're between the ages of 25 and 65, whether you're healthy or managing a medical condition, it’s worth learning about life insurance with living benefits—a solution that protects not only your family but you, while you're still alive.
What Are Living Benefits?
What Are Living Benefits?
Living benefits are features built into certain life insurance policies that allow you to access part of your death benefit while you're still living—typically if you experience a major health event. These are sometimes referred to as accelerated benefit riders.
Types of Living Benefits
Types of Living Benefits
Depending on the policy, living benefits may include access to funds in the case of:
Critical illness – such as cancer, heart attack, or stroke
Chronic illness – when you’re unable to perform basic daily tasks without assistance
Terminal illness – when diagnosed with a condition expected to result in death within a set period (usually 12–24 months)
These benefits can help cover medical expenses, replace lost income, or pay for necessary caregiving. It’s important to know that eligibility is subject to underwriting approval and may vary by carrier and state.
No Medical Exam? It's Possible.
No Medical Exam? It's Possible.
Many people assume that preexisting conditions or busy schedules will prevent them from getting life insurance. The good news? You may qualify for simplified issue life insurance, which often requires no medical exam. These policies rely on health questionnaires and prescription checks, making the process faster and more accessible—sometimes with decisions in as little as 24 to 48 hours.
This is especially beneficial if:
You’ve delayed getting coverage due to health concerns
You’ve been previously declined
You need coverage fast
Policies with living benefits are available as term life insurance, whole life insurance, or indexed universal life (IUL) options, giving you flexibility to match your financial goals.
Why It Matters Now
Why It Matters Now
Waiting to apply can limit your options and increase your cost. Health changes, even minor ones, can impact what you qualify for. Plus, the longer you wait, the more you risk missing out on features like living benefits that could support you during life’s most unexpected moments.
Ready to Revisit Your Options?
Ready to Revisit Your Options?
If it's been a while since you looked into life insurance—or if you’ve never considered policies with living benefits—now is a great time to explore your options.
✅ No medical exam options
✅ May qualify even with health conditions
✅ Fast approvals available
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