Many know that the benefit of life insurance is its death benefits. For very little cost, and no taxation in most cases, one can purchase a significant amount of money for future purposes in the event of death.
However, one of the most unknown and underutilized purposes of life insurance are benefits which can be used in the event of CHRONIC , CRITICAL & TERMINAL ILLNESS. While most modern life policies have a TERMINAL illness rider built in, which advances policy face amounts within certain limitations in the event of a diagnosis of illness in which life expectancy is expected to be 24 months or less, most do not address CHRONIC or CRITICAL illness. According to Merc CEO Ken Frazier in a 2018 CNBC interview, the "real cost of healthcare is chronic illness, things like diabetes, things like Alzheimer's"...
With the advent of covid 19, and whether one is vaccinated or not, there are certain conditions that could be deemed critical illness, which may arise as a result of infection. Conditions such as thrombosis, myocarditis, stroke, blood clotting, etc. could be deemed critical illness events or diseases.
Can a life insurance policy be structured to address these issues?
At Dunamis we say YES! One thing is sure, over one's life priorities change. What may not be of concern to a 20 year old, may be of great concern to a 50 year old. We believe that life insurance should be able to adapt to one's current life situations and needs. Life insurance is no longer simply about the face amount or death benefit of the policy. Life insurance is about providing flexibility and peace of mind and intersecting one's life at the most important during that life stage. At DUNAMIS, we specialize in comprehensive insurance planning and recommend policy structures that work best for YOU at the point that you will need those benefits the most.
Please take some time to listen to the enclosed video by Dunamis Chief Strategist Harvey Burnett. Then call (800)730-2990x801 for a FREE, no obligation consultation and insurance comparison using one of our top rated companies that support our planning in this very important area of personal finances.
-