Plan Today. Protect Tomorrow.
Life insurance is a powerful financial tool that can be used to meet many needs. Most commonly, life insurance is used to provide a death benefit to secure your family's financial future when you, the insured, are gone. But...
How do you protect against an unforeseen illness?
Consider the following:
Every 29 seconds, someone suffers from a coronary event.
Every 45 seconds, someone suffers a stroke.
45% of heart attack victims are under the age of 45.
Men have a 1 in 2 risk of developing cancer during their lifetime; for women the risk is 1 in 3.
60% of all Americans who reach age 65 may need long-term care at some point in their remaining lives.
An extreme illness can cost well over $100,000 in out-of-pocket expenses.
Most people today believe that their current health insurance is sufficient to cover all health-related costs. The reality is this:
- 62% of bankruptcies are due to a critical illness.
- 75% of those who filed for bankruptcy had a health insurance policy.
- Nearly two-thirds of cancer-related costs are NOT medical.
At John Nunes Financial & Insurance Services, we believe you should get more from a life insurance policy. Our living benefits crusade is all about having access to life insurance products that have built-in benefits you can use, "while you are living". Although most life insurance policies just pay out at death, that is not how our plans work. Our life insurance policies have “living benefits” – benefits you do not have to die to use! If you experience a terminal, chronic or critical illness, you can access your death benefit while you're alive — even if you experience a heart attack, cancer, stroke, ALS, major organ transplant, the inability to perform 2 out of 6 activities of daily living (toileting, transferring, bathing, eating, dressing, maintaining continence) and many other ailments.
That is why we have strategically aligned ourselves with the top carriers in the country that offer a full Living Benefits package that includes Terminal, Chronic, and Critical Illness Riders. Our living benefits are included at no additional cost on our life insurance products. We offer more than death insurance; we offer Life Insurance for LIFE.
Accelerated Benefit Riders
Even with the best plans, sometimes the unexpected can happen—such as a serious illness or condition. The costs associated with treatment, as well as possible income lost if you are unable to work, can threaten your quality of life.
Life Insurance with Accelerated Benefits Riders are designed to let you use your life insurance benefits when you need them most. It can help to pay for the costs of treatment for qualifying illnesses or conditions—or any other expenses. It does this by including, for no additional premium, valuable riders that allow you to access your base life insurance benefit while you are alive if you have a qualifying illness or condition.
Accelerated Benefit Riders For Owners / Key Employees
What is the greatest threat to a small business owner? It's losing their business due to a critical illness. Why? Because 48% of businesses that fail are due to unforeseen medical problems such as a critical illness.* Medical issues can not only affect the owners of a business, but key employees as well.
Through our living benefits, you and your Key Employees can have access to additional protection as well as a wealth of options that traditional life insurance does not offer when used to fund a Buy/Sell Agreement. Our new type of life insurance allows you to access your death benefit while living if you experience a terminal, chronic or critical illness—even if you experience a heart attack, cancer, stroke, ALS, major organ transplant, the inability to perform 2 out of 6 activities of daily living (toileting, transferring, bathing, eating, etc.) and many other ailments.
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:
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:
Major Organ Transplant
End Stage Renal Failure
Amyotrophic Lateral Sclerosis (ALS—or Lou Gehrig’s disease)