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Illustrative scenario: Protection that may help while living.
This is the fourth of the illustrative scenarios — protection that may help while the homeowner is still living.
A homeowner asks: “What happens to my mortgage and bills if I become seriously ill?”
We explore life insurance with available living-benefit riders for qualifying chronic, critical or terminal illness. If the insured meets the rider’s requirements and a claim is approved, they may access a portion of the death benefit early. Depending on the policy, those funds can help with mortgage payments, household bills, care expenses or other financial needs.
The value to the family: access to financial support during a qualifying illness, giving them more flexibility when their health needs attention.
The value to the loan officer: a way to connect borrowers with a conversation about protecting both their home and their financial future.
Living benefits vary by policy, rider and state. A diagnosis or inability to work alone does not guarantee payment. Accelerated benefits reduce the remaining death benefit and may involve discounts or charges. They are not disability-income insurance or a promise to replace wages until someone returns to work.
— Ken Coury | NPN: 21290624
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