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Living Benefits in Life Insurance

Updated: Jul 21, 2019

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.


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