These benefits allow individuals who qualify, the use of their life insurance benefits early, before death.
The most common living benefits are:
Critical Illness - Provides a financial benefit while living if policy owner suffers a critical illness such as cancer, heart attack or stroke among others.
Chronic Illness - Provides a financial benefit while living if policy owner needs assistance in everyday activities such as bathing and dressing.
Terminal Illness - Provides a financial benefit while living if policy owner becomes terminally ill and life expectancy is within 24 months.