This is a type of insurance where you can get an award while you are still alive.

With life insurance with living benefits, you may be able to protect your income and assets. If you’re diagnosed with a qualifying chronic, critical or terminal illness, you could make a claim against the death benefit of your life insurance policy while still alive.

Health insurance may not cover all the costs associated with a serious illness, such as mortgage payments, lost wages, utilities, food, college expenses, deductibles, co-insurance payments, uncovered medications and procedures. After the first 100 days of Medicare coverage, you’ll be responsible for paying 100% of any long-term care services.

Life insurance living benefits awards can generally be used to pay for anything you want, including mortgage, rent, auto loans, groceries, healthcare and travel. These awards are typically tax-free, subject to IRS regulations and conditions. They are not coordinated with health insurance proceeds and won’t affect payments from other policies.

Business owners can also use term life insurance for personal needs, such as providing for a child who has not yet reached adulthood or paying off a mortgage.

I can help you get this policy without a medical exam, so you can easily qualify for coverage. Living benefits are additional features that can be added to a life insurance policy, and they can provide financial assistance to the insured person while they are still alive.

Some examples of living benefits include:

• Accelerated death benefit: This allows the insured person to access a portion of the death benefit while they are still alive, if they are diagnosed with a terminal illness.

• Protection: I will help you protect your income and your assets while you enjoy the benefits.

• Disability income rider: This provides income replacement if the insured person becomes disabled and unable to work.

The cost of a term insurance will vary depending on the insured person’s age, health, and the amount of coverage that they choose. However, this type of policy can be a good option for people who want to get life insurance without having to undergo a medical exam.

Life insurance is like a Swiss army knife which depending on the situation and your needs, you can use it. Life insurance is the foundation of every financial planning. So that if your family’s financial foundation is strong, you will never have to worry about their future.

Indexed universal life insurance (IUL) is a type of permanent life insurance. Permanent life insurance provides lifelong protection. They are designed to cover you until your death.

Indexed Universal Life includes a cash value component. After policy charges such as the cost of insurance are paid, the remaining premium can be allocated to a selection of stock market indexed accounts and/or a fixed interest account. This allows the cash value to grow and accumulate over time.

Index universal life insurance allows you to earn interest on your cash value based on the performance of a stock market index, such as the S&P 500. However, your returns are capped, so you cannot lose money.

IUL policies typically have the following features:

• Death benefit: This is the tax-free amount of money that will be paid to your beneficiaries if you die while the policy is in force.

• Cash value: This is the tax deferred amount of money that you have accumulated in your policy over time. You can borrow against your cash value or withdraw it, but you will have to pay taxes on any withdrawals.

• Tax-Advantaged Partial Withdrawals, Wash Loans and Variable Interest Loans

• Guaranteed Minimum Interest Rate on Fixed Accounts

The amount of your death benefit and cash value will depend on a number of factors, including your age, health, and the amount of premiums that you pay.

IUL differs from other types of permanent cash value life insurance. In addition to offering a traditional guaranteed minimum interest rate on fixed interest accounts, an IUL policy also allows you to earn interest linked to the performance of a selected stock market index over a specific period of time. This can include indices such as the S&P 500®, Russell 2000®, EURO STOXX 50® and the NASDAQ-100®.

With an IUL policy, you can direct the cash value into one or more stock market indexed accounts. These accounts aren’t directly invested in the stock market, but their performance is based on the performance of the selected stock market indices.

If the stock market index goes down, your IUL policy will never be credited with a negative interest rate due to the guaranteed minimum interest rate or “floor.” This provides downside protection when the stock market index is negative and the potential for strong cash value accumulation when the stock market index is positive.

While you have the potential to earn higher returns when the stock market index is positive, you can rest assured that you won’t have to worry about negative returns.

I am always ready to assist you whenever you need guidance on the premiums, and interest rate credited to the policy’s index account value.

IUL policies can be a good option for people who want to grow their wealth and protect their loved ones. However, it is important to understand the risks and limitations of these policies before you buy one.