Term life insurance that pays before you die

When you think about a life insurance policy you think of it as a way to provide income to your family when you die, right? Of course, there are whole life and universal life insurance policies that can offer access to cash value while living after a certain number of years and amount of premium paid. However, these are often out of financial reach for many people and do not fit into their financial planning. For most middle income families a term life insurance policy is going to be the life insurance policy of choice because it provides a large death benefit for a low cost. But, once again, it only provides a payout at death, right?

Not anymore. There are now term life insurance policies that can provide financial protection against critical, chronic, and terminal illness. For example, what kind of financial state would your family be in if you were diagnosed with cancer, became paralyzed in an accident, or were diagnosed with some other disease that left you unable to fully take care of yourself? The death benefit from a TERM life insurance policy, issued by some companies, can now be accessed while you are living if you are facing a chronic, critical, or terminal illness.* In other words, term life insurance now offers another layer of financial protection against the unknowns of life—bringing greater peace of mind and financial security during life’s most difficult moments.

*Not available in all states.

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