Living Benefits
The primary purpose of life insurance is to give financial support to your loved ones when you die away. That is, however, only half of the story.
While you are still alive, some policies allow you to take advantage of the cash value or accelerate the death benefit. These options are commonly referred to as “living benefits,” and they may be the best-kept secret in the world of life insurance.
Riders, which are optional policy add-ons, are typically used to provide living benefits. The most common living benefit riders are as follows:
Terminal Illness Rider
Chronic Illness Rider
Critical Illness Rider
Term insurance for seniors has fixed premiums for a set number of years – usually 10, 20, or 30. In comparison to comparable permanent coverage, the initial level premium is usually lower. And the proceeds may be able to assist your family financially if anything unforeseen occurs when they are still facing huge bills. With term insurance in Orange County, you’ll have:
Term Insurance
Tax-free death benefit
Adjustable policy length
Make the switch to permanent insurance
Simplified Issue Life Insurance
The most straightforward solutions are always the greatest choices. As a result, Hippo Life Plans’ Simplified Issue Life Insurance in Orange County exists. Customers looking for a solid, low-cost Whole Life Insurance policy without a medical exam should consider Simplified Issue Life Insurance. Applicants only have to answer a few questions, choose between $5,000 and $25,000 in coverage, and leave the rest to Hippo Life Plans to determine acceptance.
Easy application process
No Medical Tests Required
Numerous coverage options
Guaranteed issue life insurance is ideal for seniors aged 50 to 80 or for people who cannot qualify for traditional life insurance due to a significant medical condition or terminal illness. Unlike traditional life insurance, guaranteed issue life insurance does not require a medical exam or health questions. It can assist your loved ones in paying for end-of-life expenses like funerals and medical bills.
Guaranteed Issue Life Insurance
Assistance in the payment of final expenses
Your approval is assured
Your policy has a cash value
Group Universal Life Insurance
Employees and their families can benefit from life insurance since it protects them financially and prepares them for the future. Group universal life insurance in Orange County is one of the most essential and beneficial benefits you can provide your employees.
Convenience
Protection
Affordable
What risks does your policy cover?
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FAQs
The life insurance proceeds will be disbursed according to the conditions of the insurance contract if there is no properly specified beneficiary. Proceeds may be distributed to family members such as your spouse, children, parents, siblings, or your estate.
Competitive group rates
Guaranteed issue insurance means you can acquire a certain amount of coverage without answering health questions or undergoing a physical examination.
Payroll deductions that are easy to use
Enrollment and instructional materials are easily accessible, allowing you to make informed decisions about the type and amount of insurance suitable for you.
Knowing that your company has reviewed and selected the plan gives you peace of mind.
All you have to do is sign up, and enrollment may be automatic in some cases.
Although finding suitable life insurance coverage becomes more difficult as you get older, certain types of life insurance are still available in your 80s.
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Get coverage for Living Benefits, Term, Simplified Issue, Guaranteed Issue, and Group Life Insurance related expenses for yourself and your family members offered by Life Insurance Rookie – variable life insurance in Orange County.
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