What Is Life Insurance With Living Benefits?

 

LIFE INSURANCE DEFINITION

What Is Life Insurance With Living Benefits

By JESSICA WALRACK Updated March 27, 202

Fact checked by BOBBY L. HICKMAN, FLMI CL

Permanent Life Insuranc

Permanent life insurance policies offer coverage for the rest of your life and guarantee a death benefit, as long as you keep paying your premiums. These policies also typically come with cash value savings components and a lineup of living benefit riders.


With cash value, insurers deposit a portion of your premium payments into an interest-bearing account. Once it reaches a certain balance or accumulates for a given number of years, you can use the cash value to pay your premiums. Insurers also often allow you to withdraw from or borrow against the cash value.   eU4?SCLU


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