Living Benefits
Why get a life insurance policy with living benefits? Because they allow policyowners to access money while alive for critical, chronic and terminal illness.
A significant percentage of Americans are affected by critical, chronic, or terminal illnesses. Based on the most recent statistics:
Chronic Illness: About 60% of adults in the United States have at least one chronic condition, and 40% have two or more chronic conditions. Common chronic conditions include diabetes, heart disease, cancer, and chronic respiratory diseases. (Source: CDC)
Critical Illness: Critical illnesses such as cancer, heart attacks, or strokes can occur suddenly. For example: Approximately 805,000 people in the U.S. have a heart attack each year.About 1.9 million new cancer cases were expected to be diagnosed in 2023.
Terminal Illness: The prevalence of terminal illnesses (such as late-stage cancers, advanced organ failure, or neurodegenerative diseases) is harder to quantify, but studies suggest that: Around 1.7 million Americans receive hospice care annually, typically due to terminal conditions. Cancer is the leading cause of terminal illness, followed by heart and lung diseases. In total, a substantial proportion of the population lives with or is affected by these health challenges, highlighting the need for financial solutions for those affected.