Living Benefits Life Insurance - [EXPLAINED]
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- Опубліковано 30 чер 2020
- Wondering how Living Benefits life insurance works, how it pays out, and IF it pays out? This video fully explains how Living Benefits works, how they pay out, and how they've protected thousands of families across the U.S. from catastrophic crisis.
I just found out today that l have this benefit through my job insurance. I have stage 4 breast cancer and l will be In Treatment for the rest of my life if l live.
WOW!! This is a great explanation that is easy to understand. Thank You!
Glad it was helpful!
Awesome job! Life insurance is no longer just death benefit but it helps YOU too! Great job.
Thank you Sir I learned a lot from this video!
Yes this is the best ,life insurance with living benefits is the best insurance I’ve known.you gotta smart and secure your future and can retired early because of this great opportunity that life insurance giving us.i myself is on process now for my insurance living with benefits
thank you this is very clear! awesome upload!
very clear thank you for sharing
This is Awesome information and Video. Thank you for sharing.
Great information
Thank you so much for this 🌹💜
Thanks for the great video! What carriers in CA have the best living benefits options? The ones I've seen have a cap pay out of only $25K for critical illness and not like the amount seen in this video. Thank you so much!
Nice info.Which insurance company offering this and suggest best onr
Wonderful! I really love the product and I can see myself selling it but finding the right agency or career is the challenge. I just got my license in March.
did you find someone to work under?
What happens if the policy holder passes dose it add to the pay out benifuary ?
Were can i find this in florida
If I had the cold, can I access this living benefits? I need around $5,000 to cover time off from work.
What life insurance did she use
I was under the impression that you could accelerate the amount you qualify for based on health trigger and the remainder would go to the family in the form of the death benefit.
It sounded like you are saying that once you accelerate you have to do a full acceleration, and based on severity the amount you get may be much less than the death benefit, but if you choose to take the money, you will no longer have the policy. For example if a stage 1 cancer provides you with $50,000, and you have a $405,000 policy like in your real example, are you saying that taking the $50K forfeits the Death Benefit. I was told there would be a portion remaining depending on how much you took, based on a partial acceleration.
review the part starting at 3:48 again. you can absolutely do a partial acceleration based on their offer and be left with face amount and protection going forward. But in the Stage 1 example, where it was a very minor illness (and thus small offer) and they're offering $50k in return for a full acceleration, you would be left with 0 face amount if you took the full $50k (you would be accelerating $405k in return for the $50k full offer).
Very informative but will there be one in Spanish released soon?
There will be! I don't have an ETA, but we are working on it now.
Great!
What if I'm in remission from my stage 3 colon cancer.. can I still be able to qualify for living benefit?
Great Video! Where's the link?
livingbenefitsexperts.com/samuelhowe/videos
Can i have video by language Viet Namese ?
Do you stop making payments since the policy ends once you take it? Can you start a new policy after with a different or same company?
If you accelerate the full amount, then the policy is fully accelerated and there would be no further coverage, therefore no payments need to be made. However, if you decide to take a portion - let's say half - then you would still need to pay for the remaining policy (in this case, half of the original payment). The reason you'd only take half is so that you can still be insured. If you're accelerating your policy because you have a qualifying event like a heart attack, it would likely be difficult or very expensive to get insured elsewhere after that heart attack. You may or may not be able to get a new policy with the same or a new company. That's why having the option to accelerate any portion you'd like is so powerful.
Nice, but please explain the fees that come with this product.
You can tell you didn't watch the video and just trolling.
They don't cost extra. Watch the video...get living benefits
You’re right. Every policy comes with a charge depending on the individual’s risk rating but if you understand the concept of compound interest and living benefits, you won't complain
I hope the fee charges not eat up all the savings
You said tax free, but why did my insurance state they will be sending me a 1099R form for the Critical Illness Claim. What are your thoughts on taxing of this claim? Or does your insurance co not send out 1099R forms after payout.
Receiving a 1099R does not mean that you will be taxed on the proceeds listed. It could just be informational in nature. IRS code 101g spells out the affects of accelerating a death benefit through living benefits riders such as terminal , chronic and critical illness benefits. You should consult a CPA but in most circumstances where owner of the contract is same as insured the benefit would be tax free under this section.
@@AllianceGroupLife Thank you for replying, I read code 101g, but unfortunately it only mentions terminal and chronic illness as being excluded from taxable income. It didn’t mention critical illness abr.
Actually in Math you are comparing making 30 years of payments until you die vs who knows how short of payments if they pay out early so the company makes less money. So I still don't understand how this is possible.
It the same if the person were to die suddenly in a car crash. They'd have to pay out the full amount anyways. These types of thing happen all the time, unfortunately. It the nature of insurance.
It seems like they would factor into their calculation the likely hood of death from the illness. If the likely hood is high they pay out higher amount but not the full amount. So it is not exactly zero sum. They are gonna save money and do what more advantagous for themselves.
Hello sir, I’m diagnosed gallbladder cancer stage 3. My insurance is 500,000 so how much I get if I claim. National life insurance. Thank you
It depends on the severity of your situation. Best to contact your agent to get the details.
How can I find this in Maryland?
www.livingbenefitsexperts.com/jeremyspringer - Jeremy Springer is licensed in MD and can help you!
Which life insurance are you speaking...is it Term or Whole life
Both! As long as it have Living Benefits, the acceleration works the same.
Let’s see you take some money out or all of it, you do not die, you still have to keep your premium, when there is no money there.?
No - if you take half of your money out, you keep half your coverage and pay half your premium going forward. If you take all of the money and there is no coverage remaining, you don't pay anything going forward.