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Life insurance is a valuable financial instrument that can serve various purposes. Typically, it is utilized to provide a death benefit to safeguard the financial future of the policyholder's family in the event of the policyholder's demise. However, unforeseen illnesses pose a significant threat to financial stability.

According to statistics, a heart attack or stroke occurs every 29 and 45 seconds, respectively, and 45% of heart attack victims are below 45 years of age. Additionally, men have a 50% chance of developing cancer during their lifetime, while women have a one-in-three risk. Further, long-term care may be required by about 60% of Americans who reach the age of 65, and severe illnesses may cost over $100,000 in out-of-pocket expenses.

Despite popular belief, many health-related costs may not be covered by current health insurance policies. For example, critical illness accounts for 62% of bankruptcies, and 75% of those filing for bankruptcy have an existing health insurance policy. Furthermore, nearly two-thirds of cancer-related costs are non-medical.

At John Nunes Financial & Insurance Services, we recognize the need for comprehensive life insurance policies that include living benefits. Our policies provide access to built-in benefits while you are still living, which is not a standard feature of traditional life insurance policies. If you experience a terminal, chronic, or critical illness, you can access your death benefit, even if you suffer a heart attack, stroke, cancer, ALS, or other ailments that affect your ability to perform daily activities. Our strategic partnership with leading carriers in the country enables us to offer a full Living Benefits package that includes Terminal, Chronic, and Critical Illness Riders at no additional cost. Our life insurance policies provide more than just death benefits; they offer Life Insurance for LIFE.

Accelerated Benefit Riders

Despite having the best plans in place, unforeseen events like a severe illness or medical condition can still occur, which may result in considerable treatment expenses and a potential loss of income, thereby jeopardizing your standard of living.

Life insurance policies with Accelerated Benefits Riders can assist in such circumstances by enabling you to utilize your life insurance benefits when you need them the most. These policies come with advantageous riders that provide access to your base life insurance benefit, without any extra premiums, if you have a qualifying illness or condition. This benefit can be used to cover expenses related to treatment or any other costs.

Business Owners

Accelerated Benefit Riders For Owners / Key Employees

The biggest danger faced by small business owners is the possibility of losing their business because of a serious illness. According to statistics, nearly half of all business failures occur due to unforeseen medical issues, including critical illnesses, which can impact not just the owner but also vital employees.

Our living benefits offer a unique form of life insurance that provides additional protection and options beyond traditional policies, especially for funding a Buy/Sell Agreement. This new type of insurance allows policyholders and their key employees to access the death benefit while still alive in the event of a terminal, chronic, or critical illness. This benefit covers a range of conditions, including heart attacks, cancer, strokes, ALS, major organ transplants, and the inability to perform basic activities of daily living.


This rider allows the owner to accelerate some or all of the Insured Person’s base life insurance benefit in the event the insured is diagnosed with a terminal illness. A terminal illness is an illness or physical condition that is diagnosed and certified by a physician to be reasonably expected to result in the insured’s death within 24 months from the date of certification.


How a terminal illness riders works: upon being diagnosed with a terminal illness with a life expectancy of one or two years, depending on the carrier, the carrier will pay out to the policy owner up to maximum percentage of the face amount of the policy with a cap typically around $1,000,000.


This rider allows the owner to accelerate some or all of the Insured Person’s base life insurance benefit in the event the insured is diagnosed with a chronic illness or condition. A qualifying illness is an illness or physical condition that was initially certified by a licensed health care practitioner within the past 12 months and affects the insured person so that he or she:


• Is unable to perform at least two Activities of Daily Living (ADLs); or

• Requires substantial supervision by another person to protect the insured person from threats to health and safety due to severe cognitive impairment.


Activities of Daily Living:

• Bathing

• Dressing

• Toileting

• Transferring

• Continence

• Eating


This rider allows the owner to accelerate some or all of the Insured Person’s base life insurance benefit in the event the insured is diagnosed with a critical illness or condition.


The following qualifying illnesses or conditions are defined in the rider:


  • Heart Attack

  • Major Organ Transplant

  • Stroke

  • Invasive Cancer

  • Blindness

  • End Stage Renal Failure

  • Paralysis

  • Amyotrophic Lateral Sclerosis (ALS—or Lou Gehrig’s disease)

Learn More About Life Insurance With Living Benefits

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