The idea of Life Insurance is easy to understand. When you pass away, your beneficiary receives a death benefit. However, what if while alive, you get sick, or disabled, or both? What happens then?
Will work pay for you to be on a permanent sick leave?
Will your family and friends stop working to help take care of you?
While both of those options sound great, the fact it is that they usually are not the case.
Living Benefit Insurance is the solution. These are plans that provide a coverage amount to the living insured while facing issues of aging, illnesses, accidents and/or dependency. The types of Living Benefits Insurance include: