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Protection for Equestrians — Living Benefits

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:

  • Critical injury
  • Critical Illness
  • Chronic Illness
  • Terminal Illness

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:

  • Household expenses
  • Adult Day Care
  • Home modifications
  • Regular bills
  • Nursing home care
  • Quality of life expenditures

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:

  • Coma
  • Paralysis
  • Severe Burns
  • Traumatic Brain Injury

Critical Illness

What qualifies? Critical Illness includes:

  • ALS (Lou Gehrig’s disease)
  • Aorta Graft Surgery
  • Aplastic Anemia
  • Blindness
  • Cancer
  • Cystic Fibrosis
  • End Stage Renal Failure
  • Heart Attack
  • Heart Valve Replacement
  • Major Organ Transplant
  • Motor Neuron Disease
  • Stroke
  • Sudden Cardiac Arrest

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:

  • Minor
  • Moderate
  • Severe
  • Life Threatening

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:

  • Request the full acceleration, on a discounted basis, and use the lump-sum as you wish.
  • Choose to leave a portion of the policy’s death benefit intact and receive a partial benefit.
  • Choose to leave the entire policy intact for your beneficiary.

Chronic Illness

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:

  • Bathing
  • Continence
  • Dressing
  • Eating
  • Toileting
  • Transferring

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:

  • Accelerate portions of your death benefit every year to receive benefit payments.
  • Leave the policy intact for your beneficiary.

Terminal Illness

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:

  • Request the full acceleration, on a discounted basis, and use the lump-sum as you wish.
  • Choose to leave a portion of the policy’s death benefit intact and receive a partial benefit.
  • Choose to leave the entire policy intact for your beneficiary. 

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.