Living Benefits
Life insurance you don't have to die to use.
Heart attack. Stroke. Cancer. ALS. Health insurance pays the hospital. Living Benefits pay everything else — your mortgage, your income, your family's life.
Living Benefits explained — a short overview from our carrier partner.
Why this matters
1 in 3 Americans will face a serious illness before age 65.
Most people think life insurance is only for after they die. That used to be true. It isn't anymore.
Living Benefits are a modern feature built into life insurance policies. If you're diagnosed with a qualifying illness or injury — cancer, heart attack, stroke, ALS, organ failure, paralysis, traumatic brain injury, and more — you can access a portion of your death benefit while you're still alive. Use it for anything: medical bills, mortgage, your kids' tuition, paying yourself while you can't work.
And here's the part most people don't realize: it doesn't cost extra. The right policy from the right carrier includes it.
"Living Benefits are the smartphone of life insurance. Once you've seen what they can do, the old version doesn't make sense anymore."
How it works
Three steps. No medical-school degree required.
You buy the policy.
An IUL, term, or whole life policy with Living Benefits built in. The rider is included — no extra premium.
Life happens.
Heart attack. Cancer. Stroke. Diagnosis triggers a qualifying event under the policy.
You access the money.
Partial or full acceleration of your death benefit. Cash to your bank account. Spend it on anything.
The full framework
Living Benefits help you answer all five risks every family faces.
Taxes
A properly structured IUL grows tax-deferred and can be accessed tax-free in retirement (under IRS Section 7702). Your 401(k) is a tax bill waiting to be set by Congress. This is the other path.
Market Risk
Indexed crediting means when the S&P 500 goes up, you participate. When it drops — 2008, 2020, 2022 — you sit at zero. You never lose principal to a market crash. Zero is your hero.
Inflation
Rule of 72: divide 72 by the inflation rate to see how fast your dollar loses half its value. At 4% inflation, your money is worth 50 cents in 18 years. A plan that doesn't beat inflation isn't saving — it's shrinking.
Illness, Injury, Death
The reason you're on this page. Living Benefits give you access to your policy while you're alive when life turns on you. It also pays the death benefit if the worst happens. One policy. Two ways it shows up.
Longevity
If you live to 95 or 100 — and people increasingly do — your money needs to last 30 or 35 years, not 20. The cash value in an IUL can provide tax-free income for life. The policy doesn't quit when you do.
What qualifies
The conditions that can trigger your benefit.
Specific triggers depend on policy and carrier. The list below covers what's commonly included on policies we write through National Life Group.
Not a complete list. Carrier underwriting and policy form determine final terms.
Next step
See where the gaps are in your current plan.
A 20-minute conversation. We'll look at what you have, show you what Living Benefits would change, and you decide. No pitch. No pressure.
Explore more
Learn more about Living Benefits
This page is general education, not insurance, tax, legal, or investment advice, and not an offer or recommendation of any specific policy. Life insurance products are not securities or investments. Features, riders, living/accelerated benefits, caps, costs, and availability vary by carrier and state, and any guarantees rely on the claims-paying ability of the issuing insurer. Accelerated/living benefits may be taxable and reduce or are offset against the death benefit and cash value; policy loans and withdrawals reduce both as well. Consult your own tax advisor about your situation. Life insurance offered through Goodwill Financial Group, Inc. (DBA Living Benefits Team).