Life insurance can now fund long term care or critical care expenses. Turn your death benefit into a living benefit. American National now offers an impressive group of accelerated benefit riders at no extra charge.
There are three living benefits:
- Chronic – Payment of an accelerated benefit if the insured cannot perform 2 of 6 activities of daily living or cognitively impaired. This is the criteria for long term care insurance benefits with traditional LTC plans. Use your life insurance to augment your LTC insurance, cash comes in handier than expense reimbursement, or have your life policy serve as your contingent LTC insurance.
- Critical – Payment of an accelerated benefit if the insured experiences a critical illness. American National says 16 different illness, but details and definitions must be referred to on the specific rider
- Terminal – Payment of an accelerated benefit if insured has less than 24 months to live. Most life insurance coverage has this terminal illness rider. It’s 12 months in certain states.
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