Old Term vs. New Term

Old Term vs. New Term

“About 2.2 million Americans experienced medical bankruptcy in 2001. Among those illnesses that led to bankruptcy, out of pocket costs averaged $11,854 since the start of illness; 75% had insurance at the onset of illness.”

Term life insurance vs. whole life insurance. Which is a better choice for you? Term life insurance policies serve a purpose.  It is designed to provide security for your loved ones in the event of your premature death…but what if you have a serious heart attack, invasive cancer or a stroke and don’t die? What about financial help during critical or long-term chronic illnesses, at retirement or to offset the costs of life’s other milestones?

Today you have more choices in choosing Life Insurance.

• Life insurance to help take care of loved ones

• Accelerated Benefit Riders to help with the costs of critical or long-term chronic illnesses or conditions

• Disability Income Rider to help pay bills if an illness or condition leaves you unable to work

• Cash Value to supplement your retirement income, or to help with other financial goals.


How Long Could You Financially Survive an Extended Disability?

51.2 million people in American have some level of disability. They represent 18 percent of the population.1

Men have a 43 percent chance of becoming seriously disabled during their working years, while women have a 54 percent chance.2

A disabling injury occurs every 1.5 seconds.3

The average disability claim lasts almost 13 months, and mortgage foreclosures due to disability occur 16 times as often as they do for death. Yet, more than 40 percent of full-time workers do not have coverage in the event of a short or long term disability to protect against a loss of income. 

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