What If?

Written for Financial Advisors of America CONNECTIONS Client Newsletter by Rick Drazien

 

Asking or answering what if questions can sometimes be fun. For example, what would you do if you won several millions of dollars in the lottery? Coming up with an answer is a more thought provoking exercise when the question addresses your families emotional and financial peace of mind for surviving the “what if” crisis with planning that can be implemented before the “what if” ever happens.

Most clients have some form of life insurance to provide their loved ones with enough funds to continue on after they have died. It is no surprise, therefore, that most think if it as death insurance. We believe that if life insurance is going to also help you and your family survive and thrive while you are living, and life happens, it must contain “LIVING BENEFITS”. Does your coverage include that feature?

The statistical evidence is staggering. Virtually everyone reading this article knows of someone who has suffered a debilitating chronic illness that requires help in performing the basic activities of daily living, or has suffered a critical illness such as stroke, heart attack or a diagnosis of cancer. Living Benefits allows you access to a portion of the policy face amount (death benefit) while you are living, not after you’re dead.

Bills don’t stop because you are seriously ill. They keep on coming and family income may have decreased dramatically or stopped altogether. You may need money NOW to avoid bankruptcy; to stay in your home and avoid foreclosure; to continue your children’s education; to pay high medical bills that are not covered by your health insurance plan (assuming you have one) or the alternative care that is recommended as the best treatment to save your life, but costs more than you could possibly afford.

If that happened to you or someone in your family, what would you do? How would you survive? How would you provide the security and peace of mind you are seeking, not just after death, but while you are living life, and before that what if ever occurs.

What if a life insurance policy was developed that INCLUDED access to the death benefit if money is needed to help you and your family survive the financial and emotional impact of dealing with chronic, critical, or terminal illness,

1. WHILE YOU ARE LIVING
2. With NO ADDITIONAL PREMIUM CHARGE
3. With NO RESTRICTIONS ON HOW TO USE THE MONEY


If it is going to be called “life insurance,” it must help you and your family to achieve financial peace of mind while you are living. Since it is a financial burden for many to purchase three different policies to provide the amount of life insurance needed; long term-care insurance; and another for critical illness coverage, doesn’t it seem reasonable to cover all three needs in one affordable contract that included living benefits.

At Financial Advisors of America, Thinking Differently is a Way of Life!


TO LEARN MORE ABOUT LIVING BENEFITS, CLICK HERE!

FOR A FREE FINANCIAL REVIEW, CLICK HERE!

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