Benefit Insurance Policy: A Safety Net for Employees and Businesses
A benefit insurance policy is a type of insurance that provides financial protection for employees in the event of certain life events, such as illness, disability, or death. These policies are often offered by employers as part of an employee benefits package, and they can provide valuable peace of mind for both employees and their families.
Living Benefit Insurance: A Lifeline in Uncertain Times
A living benefit insurance policy, also known as an accelerated death benefit rider, is a safety net that provides access to a portion of the death benefit while the insured is still living. For instance, if Mary, a policyholder facing a critical illness, activates her living benefit rider, she can receive a lump sum to cover medical expenses or maintain her standard of living.