Life insurance often offers peace of mind with many financial benefits, but it can also offer more. Learn about life insurance policy benefits other than the death benefit. Living or accelerated benefits Beyond the standard death benefit, life insurance can provide compensation for loss of current income and assets, loss of potential savings, and even loss of investment capital (such as stock or mutual funds).
Life Insurance Policy Benefits
Some policies may provide cash payouts to beneficiaries or provide money to cover outstanding debts. To learn more about these types of benefits, contact a qualified insurance agent.
Many insurance agents focus only on the death benefits. You may be missing out on life insurance policy benefits by not including the additional ones that can help pay off bills, buy a new home, or fund educational expenses Retirement planning. Many individuals may choose to use the cash value of a term policy instead of relying on current cash resources.
Expired benefits are not taken into account when you decide which policies to include in your family plan. Expired term life insurance policy benefits provide money to help pay bills, make home improvements, or finance education.
There are many different types of riders offered by life insurance companies. Check out the policy descriptions and definitions before you decide on the type of rider you want. Most agents have a number of different types of riders and can help you determine which one best meets your needs and will give you the best financial protection.