IT'S ALL ABOUT LIVING!
The irony of life insurance is that the benefit is realized at the death of the policy holder. It is really “death insurance” but that would be a hard idea to sell. Today, the world of insurance has expanded to also provide benefits while the policy holders are alive – a living benefit. Living benefit plans are insurance policies that provide financial benefits to survivors who face issues due to aging, illness, accidents and dependency.
There are 3 common types of living benefit insurance policies: