When Jackie Blanchard's husband died at 28 with barely enough life insurance to pay for his funeral, she purchased enough coverage for herself to ensure that her young daughters, Ebony and Shanna, would be fine if something happened to her. Two years later, she was diagnosed with terminal lung cancer. Jackie used her policy’s accelerated death benefit provision to finance a home and a car for her daughters and to fund their future education. Today, Ebony, a recent college graduate, and Shanna, a high school senior, live in the home their mother purchased for them.
The clients testimonials are provided to engage you in thinking about life insurance. Of course, each client’s results will vary based on various factors, including the products or strategy selected and the performances of any sub-accounts. There is no guarantee that results similar to those portrayed in a testimonial will be achieved.
These videos are provided by the Life and Health Insurance Foundation for Education (LIFE), a nonprofit organization dedicated to helping consumers make smart insurance decisions to safeguard their families’ financial futures. LIFE does not endorse any insurance company, product, or advisor. ©2012 LIFE All rights reserved. http://www.lifehappens.org
All guarantees are backed by the claims-paying ability of the insurer. Loans and withdrawals will reduce policy cash values and the death benefit, may have tax consequences, and may also negate any guarantee against lapse. If a policy is a Modified Endowment Contract, distributions (including loans) are taxable to the extent of income in the policy, and an additional 10% federal income tax penalty may apply.
An accelerated death benefit rider or feature of a life insurance policy allows the policyowner to access the death benefit if the insurer is diagnosed with a qualifying terminal illness. Some restrictions and fees may apply. Receipt of the accelerated death benefit may be taxable and may also affect eligibility for public assistance programs.
Exclusions, restrictions, limitations, and reductions in benefits will, in certain situations, apply to your policy. For full details, including costs, call us at 877 276-9429.
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