Did you know?

38% of American households would have trouble paying living expenses in six months or less if their primary wage earner died. It's clear that there is a great need for life insurance, but did you know that today's term life insurance may be alot differant from what you're used to?

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OLD Term life Insurance

The old standard for term life insuance is what you'd expect - basic death benefit protection and maybe an accelerated death benefit endorsement (ADBE) for terminal illness.

Death benefit protection
Sometimes terminal illness ADBE

(6-12 month life expectancy)

NEW Term Life Insurance

New term life insurance is about offering more value for less, and may include:

Death benefit protection
Accelerated underwriting - faster, easier, less invasive
Convertibility options - easily converted to a permanent policy
Living benefits - critical, chronic and terminal illness

(24 month life expectancy)

Living Benefits may be the most important aspect of new term life insurance

serious illness can affect anyone at any time, and place additional strain on your family's finances.

Living benefits can help protect against this financial risk by allowing you to access a portion of your death benefit while living if you are diagnosed with a qualifying illness.

Here are some of the costs you might expect to pay:

Private room in a nursing home - $116,796 per year¹
Licensed home health aide (non-Medicare certified) - $75,504 per year¹
Average out-of-pocket expenses for cancer patient - $1,390 per month²
1. Source: Genworth Cost of Care Survey, September 30, 2024. Median cost is quoted. 2. Source: The Out-of-Pocket Cost Burden of Cancer Care, National Library of Medicine, April 2021.

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Want to know more about Personal Life Insurance

Old vs New Life Insurance