Indexed Universal Life
A few life insurance companies have been using Advanced Befit Riders (ABRs) for decades, and most carriers off this rider with either included or at a minimum charge. A policy with an ABR allows the insured to access part or all of the death benefit if you experience a qualifiying terminal, chronic, or critical illness or injury. In most states, you can use the benefit for any purpose including, household expenses, home modifications, nursing home care, home care, adult day car, paying bills or quality of life expenses. Each company has it's own terms and conditions.
Is ABR available on a term policy? Yes. Most insurance companies have this rider even on term policies, greatly increasing the value of purchasing term.
Term Insurance
When purchasing term insurance, it is important to obtain a policy that can convert to permenant coverage. In the event that you become uninsurable or have a shortened life expectancy, you don't want to lose your coverage because your policy expires and you cannot continue coverage by converting to a permenant policy.
Tap Into Your Death Benefit for
Chronic or Critical Illness or Injury