Life insurance living benefits

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By choosing a policy with a living benefit rider, you can help to protect the assets you’ve worked so hard to accumulate.

By Roni Bell, HealthMarkets Insurance Agency

Most people understand life insurance to be a financial tool that protects their loved ones when they pass away, providing needed funds for bills, college and more. What they may not realize is that life insurance can also be a vital resource to help support the policy holder while he or she is still alive.

By choosing a policy with a living benefit rider, you can help to protect the assets you’ve worked so hard to accumulate. This rider can provide early access to your life insurance policy’s death benefit when you have a qualifying condition and can be used to preserve your quality of life. It may not cost extra to choose a policy with this provision.

Medical costs are the number one reason people file for bankruptcy and are responsible for 17 percent of 401(k) hardship withdrawals.* With a living benefit rider on your life insurance policy, three important coverage areas can provide early access to life insurance funds.

Your life insurance policy rider may allow up to 80 percent of benefits should you be diagnosed with a terminal, chronic, or critical illness.* So, for example, if you have a stroke and are incapacitated for months, you can use the funds to pay for care, or use the money for cancer or other medical treatment.

July is a perfect time to do a policy review to ensure the coverage you have is the coverage that can meet your needs today, tomorrow and into the future. The best part is, sitting down with me to discuss your options doesn’t cost a thing. I look forward to hearing from you.

HealthMarkets Insurance Agency is located at 1039 Pearl Road, in Brunswick. Call Roni at 330-225-2550. Visit the website at

HealthMarkets Insurance Agency, Inc. is licensed as an insurance agency in all 50 states and the District of Columbia. Not all agents are licensed to sell all products. Service and product availability varies by state. Agents may be compensated based on enrollment. No obligation to enroll. HealthMarkets does not offer every plan available in your area. Any information they provide is limited to those plans they do offer in your area. Please contact or 1–800–MEDICARE (TTY users should call 1-877-486-2048) to get information on all of your options. 49808-HM-0723 (*Source: TransamericaLBFAQol-3147-LB-FAQ[83])