Top Life Insurance Providers Offering Living Benefits
Explore the six best life insurance companies that offer policies with living benefits, providing added value to policyholders.
Many life insurance providers offer living benefits as part of their life insurance policies. Living benefits, also known as accelerated benefits or critical illness riders, allow policyholders to access a portion of the death benefit while they are still alive if they experience a qualifying critical illness or condition. These benefits can help cover medical expenses, debts, or other financial needs during a challenging time. Here are some of the top life insurance providers known for offering living benefits:
Prudential: Prudential is a well-established life insurance company that offers various living benefits options, including critical illness and terminal illness riders. They provide coverage for a range of critical illnesses, such as cancer, heart attack, and stroke.
MetLife: MetLife offers a Critical Illness Accelerated Benefit Rider that allows policyholders to access a portion of their death benefit if they are diagnosed with a qualifying critical illness. They also offer a Terminal Illness Rider.
AIG (American International Group): AIG provides a variety of living benefits, including critical illness, chronic illness, and terminal illness riders. Their Accelerated Access Solution rider is designed to help policyholders in need of financial assistance during difficult times.
Lincoln Financial Group: Lincoln Financial offers a Critical Illness Rider that allows policyholders to access a portion of their death benefit if they are diagnosed with a covered critical illness. They also provide a Chronic Illness Rider.
Northwestern Mutual: Northwestern Mutual offers living benefits riders that provide access to the death benefit in case of a terminal, chronic, or critical illness. They also offer a Long-Term Care Rider.
MassMutual (Massachusetts Mutual Life Insurance Company): MassMutual provides a Living Benefit Rider that allows policyholders to access their death benefit if they are diagnosed with a qualifying chronic, critical, or terminal illness.
Transamerica: Transamerica offers a Critical Illness Rider that provides an acceleration of the death benefit if the insured is diagnosed with a critical illness. They also provide a Terminal Illness Rider.
Nationwide: Nationwide offers a Critical Illness Rider as part of their life insurance policies, allowing policyholders to receive a portion of the death benefit if they are diagnosed with a critical illness.
Guardian Life Insurance: Guardian Life offers living benefits in the form of critical illness and chronic illness riders. Their Enhanced Living Benefit Rider provides financial assistance for policyholders facing qualifying illnesses.
Principal Financial Group: Principal offers a Chronic Illness Accelerated Death Benefit Rider, allowing policyholders to access their death benefit in case of a chronic illness diagnosis.
It's essential to note that the availability of living benefits and the specific conditions they cover can vary from one insurance company to another. When considering life insurance with living benefits, carefully review the policy terms and conditions, including any limitations, exclusions, and definitions of qualifying illnesses. Additionally, consult with a knowledgeable insurance professional to ensure that you choose the right coverage for your needs.
6 Best Life Insurance Companies With Living Benefits.
Here are 6 of the best life insurance companies with living benefits:
- Mutual of Omaha: Mutual of Omaha offers a wide range of life insurance products, including term life insurance, whole life insurance, and universal life insurance. Many of their policies also offer living benefits, such as accelerated death benefits, chronic illness riders, and waiver of premium riders.
- Haven Life: Haven Life is a digital life insurance company that offers term life insurance policies with living benefits. Their accelerated death benefit rider is included on all policies at no additional cost, and they also offer a critical illness rider and a chronic illness rider.
- State Farm: State Farm is one of the largest insurance companies in the United States, and they offer a wide range of life insurance products, including term life insurance, whole life insurance, and universal life insurance. Many of their policies also offer living benefits, such as accelerated death benefits, chronic illness riders, and waiver of premium riders.
- New York Life: New York Life is another large insurance company that offers a wide range of life insurance products. Many of their policies also offer living benefits, such as accelerated death benefits, chronic illness riders, and waiver of premium riders.
- Nationwide: Nationwide is another large insurance company that offers a wide range of life insurance products. Many of their policies also offer living benefits, such as accelerated death benefits, chronic illness riders, and waiver of premium riders.
- Bestow: Bestow is a digital life insurance company that offers term life insurance policies with living benefits. Their accelerated death benefit rider is included on all policies at no additional cost, and they also offer a critical illness rider and a chronic illness rider.
It is important to note that living benefits are typically optional riders that must be added to a life insurance policy for an additional cost. You should carefully consider the costs and benefits of living benefits before adding them to your policy.
It is also important to compare quotes from multiple life insurance companies before choosing a policy. This will help you find the best policy for your needs and budget.
I recommend that you speak with a qualified financial advisor to discuss your individual needs and goals before choosing a life insurance company and policy.