Life insurance can protect the people you love after you're gone. Living benefits can also provide protection while you're here.
ABNORMAL RESERVE works with life insurance policies that may include living-benefit features and riders covering a range of qualifying circumstances, available when the policy provides them and the applicant qualifies.
Built into applicable policies.
No additional charge for the built-in living benefits included with applicable policies, when available and when you qualify.
Life insurance is often described as protection for the people you leave behind.
But what happens if something serious happens to you while you are still here?
That's where living benefits can change the conversation.
Some of the applicable policies available through ABNORMAL RESERVE include living-benefit features and riders covering a range of qualifying circumstances. Where those features are included with the policy, there may be no additional charge. Availability depends on the policy and the applicant qualifying.
Living benefits may allow a portion of the death benefit to be accelerated while the insured is living following a qualifying illness or injury.
The exact benefit, qualifying condition, amount available, eligibility requirements, and effect on the remaining death benefit are determined by the policy contract.
Not all living benefits are the same.
That's why the details matter.
Not all life insurance policies are created equally.
And not all living benefits are created equally.
The difference is not simply that living benefits exist.
It's the breadth of protection built into the applicable policies we offer.
These benefits can address qualifying
And on applicable policies, these built-in living benefits are available at no additional charge when the applicant qualifies.
That does not mean every applicant receives every benefit automatically.
Health, underwriting, eligibility, product availability, state availability, and the specific policy contract all matter.
Our job is to help you understand exactly what you're getting.
Five categories of qualifying events may make living benefits accessible. None of them is self-executing: the policy defines what qualifies, and that definition is what an insurer applies to a claim.
A qualifying terminal illness may allow a portion of the death benefit to be accelerated while the insured is living.
The policy defines the qualifying condition and certification requirements. Because contracts differ, the applicable definition and requirements are the ones that matter.
Qualifying chronic illness benefits may be available when the insured meets the policy's definition of chronic illness. That may involve an inability to perform a specified number of activities of daily living, or other contractual requirements.
Examples of activities of daily living. The actual policy definition controls.
These benefits can help address financial needs that may arise during a prolonged chronic illness.
A qualifying critical illness may allow benefits to be accelerated when the insured experiences a covered condition defined by the policy.
Examples of conditions that may be covered. Covered conditions, definitions, severity requirements, and exclusions vary by contract.
Certain policies may provide benefits when the insured experiences a qualifying critical injury. The exact injuries and requirements are defined by the policy.
Not every serious injury qualifies. Whether a particular injury falls within the provision depends on how the contract defines it and what requirements it sets.
Applicable policies may provide living benefits for a qualifying diagnosis of Alzheimer's disease or Lewy Body Dementia when contractual requirements are satisfied.
As with every other category here, the policy defines the qualifying diagnosis, what must be documented, and what the benefit provides. The contract controls.
Living benefits are available only on applicable policies and vary by policy, state, and carrier. The descriptions above are general and educational. They are not a substitute for reading the policy contract, which governs eligibility, definitions, limitations, and the amount available.
Living benefits generally do not create an additional pool of money.
Instead, they allow a portion of the existing death benefit to potentially be accelerated and accessed while the insured is living after a qualifying event.
That means accessing an accelerated benefit can reduce the death benefit remaining for beneficiaries.
The exact calculation, amount available, and effect on the policy depend on the specific contract.
The value is having access to protection when you may need it most, while you're still here.
A serious illness or qualifying injury can create financial pressure long before a death benefit would ever be paid.
Medical expenses may be only one part of the problem.
There can also be changes in income, household responsibilities, caregiving needs, business responsibilities, and financial priorities.
Living benefits can provide another layer of financial protection during qualifying circumstances.
Two policies can both advertise "living benefits" and still provide very different protection.
That's why comparing the words "living benefits" isn't enough.
You need to understand the actual coverage.
On applicable policies offered through ABNORMAL RESERVE, the living benefits are built into the policy at no additional charge.
That does not mean qualification is automatic.
The policy you qualify for, your underwriting, eligibility, state availability, and the specific contract determine which benefits are available.
That's why we don't stop at saying a policy has living benefits. We explain what those benefits actually cover.
A serious illness or injury does not automatically qualify someone for benefits. The event must satisfy the applicable policy definition and requirements.
Living benefits generally accelerate a portion of the existing death benefit, rather than adding to it.
Living benefits and disability insurance address different risks. Disability insurance is generally designed to address loss of income resulting from a qualifying disability.
The existence of living benefits does not tell you how comprehensive the benefits actually are. The details matter.
Two policies can both have living benefits and still provide very different protection.
Don't just ask what your policy pays when you die.
Ask what it can do while you're living.
That's the difference between having a policy and understanding your protection.
Related education
Disclosure
Living benefits are available only on applicable policies and are subject to underwriting, eligibility, policy terms, definitions, exclusions, limitations, product availability, and applicable state requirements. Living benefits offered through applicable policies may be included at no additional charge when available and when the applicant qualifies. Living benefits generally accelerate a portion of the death benefit and may reduce the amount available to beneficiaries. Features and benefits vary by policy and carrier. Guarantees are subject to the claims-paying ability of the issuing insurance company. This information is for educational purposes and is not tax, legal, or investment advice.
