Living Benefits in Life Insurance - All of our Living Benefits are included in our Affordable Term Life Insurance for Athletes and Equestrians!
Because “Life Happens” — Life insurance you don’t have to die to use.
What If You Become Ill or Injured?
If you have no additional cost Accelerated Benefit Riders (ABR’s) on your policy, you and your family would have financial protection during your lifetime in the event you experience a qualifying illness or injury. Life insurance can do more than pay a death benefit; it provides benefits for living.
Accelerated Benefits Riders are optional, no-additional cost riders (additional benefits) that can allow you to access all or part of your death benefit, while living, if you experience a qualifying:
The use of the benefit is unrestricted with the exception that ABR proceeds for chronic illness in the state of Massachusetts can only be used to pay for expenses incurred for Qualified Long-Term Care services.*
Since the benefit is unrestricted, once you qualify, you can use the benefit for any reason. Benefits might be used for, but are not limited to:
Breathe Easier...With Living Benefits
* Qualified Long-Term Care services: The necessary diagnostic, preventative, therapeutic, curing, treating, mitigating and rehabilitative services, and maintenance or personal care services that are required by a chronically ill individual and are provided pursuant to a plan of care prescribed by a licensed health care practitioner.
Critical Injury includes:
What qualifies? Critical Illness includes:
Critical Injury and Illness — Receiving your Benefit
The discounted benefit you receive for the critical illness or critical injury rider takes into consideration four different categories dependent on the severity of the illness:
The highest payout will result from the Life Threatening category. Generally, the ABR needs to be in force for 30 days prior to diagnosis in order to accelerate. There is no annual limit, but there is a lifetime limit on the amount of benefits you can receive from all Accelerated Benefits Riders.
Here if you need it You can elect to either:
What qualifies? A doctor has certified, within the past 12 months, that you are unable to perform two out of six “activities of daily living” for a period of at least 90 consecutive days without assistance, or that you are cognitively impaired.
Activities of Daily Living:
Receiving Your Benefit
Generally, this ABR needs to be in force for a period 30 days. There is an annual limit on the amount of benefits you can receive. There is also a lifetime limit on the amount of benefits you can receive across all Accelerated Benefits Riders.
Note that you do not have to be in a licensed facility to receive payments, and that you can apply for benefits every 12 months. Benefits can be used for any reason (with 1 state exception), and do not need to be used for medical expenses. If you should need it, and you qualify, after the waiting period you can:
What qualifies? Generally, if you have been diagnosed with a terminal illness that will result in death within 24 months of certification of the illness by a physician.
Receiving your benefit The benefit payment will be a lump sum. There is no waiting period or annual benefit limit, but there is a lifetime limit on the amount of benefits you can receive across all Accelerated Benefits Riders.
Here, if you need it, you can elect to either:
Please contact ARM to request and receive State Specific Information and other disclosures for exceptions and important information.
Our first priority is helping you take care of yourself and your family. We want to learn more about your personal situation, identify your dreams and goals, and understand your tolerance for risk. Long-term relationships that encourage open and honest communication have been the cornerstone of ARM’s foundation of success.