I use to think life insurance meant someone (beneficiary) got money when I die. Since I don't have kids, I thought why would setup such a plan, that's a murder motive. Of course the was probably all of the true crime shows I watch to relax, lol!!
They say with age comes wisdom, at the ripe ole age of 40 that finally started to happen for me. I have a full time job that comes with benefits such as life insurance. However I realized two things, 1 - it's not "my" policy it belongs to the company so if I am no longer at the company I don't get to keep it; 2 - I should probably be responsible & have enough to cover the mortgage.
I started on my hunt for a supplemental policy. After several companies just gave me quotes, one agent stood out. She took the time to find out what my needs were. She then educated me on the options available, including living benefits.
There are different types, but the one that caught my attention was the accelerated death benefit. You can use your policy in the event you get a critical diagnosis. This is such a big deal considering the massive cost of medical expenses.
The policy I purchased includes accelerated death benefits. It was this experience of learning about life insurance options that made me realize I needed to share the information with others. My policy gave me peace of mind. I hope the information I share with you helps you understand your options & brings you peace of mind as well.
Find out more about living benefits: What are living benefits of life insurance