Most people know life insurance can provide financial protection and continuity during one of life’s most difficult times – the death of a loved one.
Few people know that life insurance can also help during another difficult time: when a loved one has experienced a critical, chronic or terminal illness.
The unexpected can and does happen.
How do you plan to pay for extended nursing care for a chronic condition or the high cost of treatment if you are diagnosed with a critical illness like cancer?
If you plan to use your own funds, keep the potential costs in mind. Here are some of the costs you might expect to pay:
• Private room in a nursing home – $97,452 per year
Assisted living facility (private one bedroom) – $45,000 per year
• Licensed home health aide (non-medicare certified) – $49,188 per year
• Average out of pocket expenses for cancer patient – $20,000 per year2
We believe you should get more from your life insurance policy.
We think you should have access to benefits you can use while you are living.
We call these features accelerated death benefits