The number one benefit of life insurance is the money your policy pays to your family if you pass away. But did you know that some policies build cash value over time? Or that some policies let you dip into that death benefit if you need help paying for care due to a disability or terminal illness? While the tax-free death benefit is still the biggest reason to buy coverage, there are plenty of living benefits you can use during your lifetime that may surprise you.

Learn the Basics

Let’s start with the most important benefit of any life insurance policy – the peace of mind provided by the policy’s payout if anything happens to you. That money may be used for income replacement, business continuation, or estate preservation. Here’s what you need to know to get started.

Living Benefits: What’s In It for You?

From riders to return of premium, life insurance policies have many options that can help you achieve a range of financial goals. For example, some policies build cash value over time. Others have options for policy riders that let you tap into the death benefit if you need help paying for medical care. Here’s a brief introduction to the many living benefits of life insurance.