Additional life insurance benefits are additional features or services that may be offered by a life insurance carrier to policyholders. These benefits can vary widely, but some common examples include:
- Wellness programs: Some carriers offer wellness programs that provide policyholders with access to resources and incentives to help them live healthier lives. These programs may include things like gym memberships, health coaching, and wellness assessments.
- Discounts for healthy lifestyle choices: Some carriers offer discounts on premiums for policyholders who engage in healthy lifestyle choices, such as exercising regularly, maintaining a healthy diet, or not smoking.
- Accidental death coverage: This type of coverage provides an additional death benefit in the event that the policyholder dies as a result of an accident.
- Long-term care coverage: This type of coverage helps to pay for long-term care expenses, such as in-home care or assisted living, in the event that the policyholder becomes unable to care for themselves due to a chronic illness or injury.
- Children’s coverage: This type of coverage provides a death benefit for the policyholder’s children in the event of the policyholder’s death.
- Waiver of premium: This rider allows policyholders to waive their premiums in the event that they become disabled and are unable to work.
- Disability income coverage: This type of coverage provides a monthly benefit in the event that the policyholder becomes disabled and is unable to work.
- Critical illness coverage: This type of coverage provides a lump sum benefit in the event that the policyholder is diagnosed with a critical illness, such as cancer or a heart attack.
- Terminal illness coverage: This type of coverage provides a lump sum benefit in the event that the policyholder is diagnosed with a terminal illness and is expected to live for only a short period of time.
- Income replacement: This type of coverage provides a monthly benefit to help replace the policyholder’s income in the event of their death.
- Funeral expenses: Some policies provide a benefit to help cover the cost of the policyholder’s funeral expenses.
- Living benefits: Some policies allow policyholders to access a portion of their death benefit while they are still alive in the event of a qualifying event, such as a terminal illness or long-term care need.
By considering these additional benefits, you can help ensure that you are getting the coverage and support you need to protect your loved ones. It is important to carefully review the available benefits and consider whether they are important to you when shopping for a life insurance policy.
