Though Dave has coined the term “modern day life insurance” it’s definitely something you’re going to want to be familiar with.
Modern day life insurance is more than just insurance - it's financial help right when you need it.
Questions & Notes
1. What in heaven's name is Modern Day Life Insurance? What makes it different?
- Makes use of the economic value of your death benefit while you are alive
- Can be used as a “living benefit”
2. What are some options with Modern Day Life Insurance?
- Long-term care benefits
- Critical care benefits
- Terminal illness care benefits
- Indemnity plans - triggered event
3. Is it hard to qualify for these types of programs?
- No – usually you just need documentation from your primary physician
4. If I do qualify for them are there any restrictions?
- No – your doctor says "you need this benefit", and the check is cut to either you or your financial power of attorney