Life is unpredictable, and there's no way to know what the future holds. That's why it's essential to have a safety net in place to protect yourself and your loved ones. A critical illness rider is one such safety net that can provide much-needed support when you need it the most.
What is a Critical Illness Rider and How Does it Work?
A critical illness rider is an add-on to your life insurance policy that allows you to access some or all of your death benefit while you're still living if you're diagnosed with a qualifying health issue. This rider must be added to your life insurance policy before you develop a qualifying condition.
Why You Need a Critical Illness Rider
Having a critical illness rider in your life insurance policy can provide financial security to you and your family in times of need. Here are some of the benefits of having a critical illness rider:
• Immediate access to funds: If you're diagnosed with a qualifying critical illness, you'll be able to access some or all of your death benefit before you pass away. The amount you can access typically ranges from 40% up to 80% of your insurance policy benefit.
• Peace of mind: Knowing that you have a critical illness rider in place can provide peace of mind to you and your family. It can help alleviate the financial stress that comes with a critical illness and allow you to focus on your recovery.
• Flexible use of funds: You can use the funds from your critical illness rider for any purpose, such as paying for medical expenses, covering living expenses, or even taking a dream vacation.
How Our Team at Legacy Movement Connection Can Help
At Legacy Movement Connection, we understand the importance of having a comprehensive life insurance policy that meets your unique needs. Our team of experts can help you create a policy that includes a critical illness rider, among other options. We'll work closely with you to understand your goals and develop a plan that provides the financial protection you need.
In conclusion, a critical illness rider is a crucial component of any life insurance policy. It can provide peace of mind and financial security to you and your loved ones when you can't be there to help. If this sounds like a situation you'd like to avoid, contact us at Legacy Movement Connection to learn more about how we can help you create an insurance policy that's right for you.