A death benefit is a cash benefit that comes with life insurance, mortgage protection insurance, final expense, and other policies. It is a benefit that your family or beneficiaries will receive in the event of your death. The money can help your family pay expensive bills or debts and maintain financial stability.
The death benefit can be used to make mortgage payments, replace your income for a few years, pay medical bills, cover funeral and burial costs, credit card debt, and other bills. Without a death benefit, could your family afford to pay all of these expenses? If not, you may want to consider getting an insurance policy.
An accelerated death benefit is a cash benefit included with many life insurance policies. If you should become chronically or terminally ill or require a nursing home, you could receive a large percentage of your death benefit tax-free while you’re still living. This money could help you pay for your medical bills and other expenses, lifting the financial burden while you’re coping with health issues.
If you or your family would be unable to cover your expenses if you became chronically ill or passed away, you should consider a life insurance policy. Our certified insurance agents can help you find a plan that fits your needs and budget.
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