What are Living Benefits?

When you hear about life insurance, you hear a lot about the death benefit - the money paid to your loved ones after you pass away. While the death benefit is important in protecting your family's financial future, living benefits can be helpful as well.

Living Benefits are the benefits of your life insurance policy that you can use while you're still living. Not only policies come with living benefits, but NAA Insurance offers several term life insurance policies that include some living benefits automatically, and others you can add on.

How can Living Benefits help me and my family?

Most families could benefit from this type of coverage, but it's especially helpful if you're looking for the following coverage benefits:

  • Accelerate your death benefit - With an accelerated death benefit, you can receive up to 95% of your death benefit if you become critically, chronically or terminally ill.
  • Get your premiums back - If you live longer than the term of your life insurance policy, you can get up to 100% of your premiums back
  • Waive your premium payments - If you become unemployed, you can have your premium payments waived for up to 6 months.
  • Get an income if you become disabled - With this benefit, you can get a monthly payment for up to 2.5 years if you are unable to work due to a disability.
  • Get coverage for your children - Getting coverage for your children or grandchildren will not only protect them now, but it will also ensure that they can qualify for coverage as adults, even if they develop and illness or disability.

Interested in these benefits? Give us a call today or fill out the form on this page. We'll help you find an affordable, reliable coverage option that meets your needs.

Additional Living Benefits

NAA Insurance also offers a policy that builds cash value that you can use down the road. These policies are most frequently used as a tax-free income during retirement, but can be used for other purposes. If you're interested in this policy, please visit our tax-free retirement page.