Most people get life insurance for the death benefit, providing peace of mind that their loved ones will be taken care of, if the insured dies prematurely.
Not too many people are aware of the “living benefits” of life insurance: cancer benefits, heart attack or stroke benefits paid at first diagnosis (money that can be used for anything, from alternative treatments, to vacation time or replacing the income lost).
Also, cash value that accumulates in the whole life or universal life policies, can be taken out as loans against the policy and used for any personal purpose.
Some people use the permanent life insurance policies to maximize their retirement funds.
There are many facets of life insurance that can help in many situations. Call the LifeGuy today for free advice/quotes. 877-LIFE-GUY or email info@LifeGuy.com