The DAK Financial Podcast, Episode 10 - Modern Day Life Insurance
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