Life Insurance You Don't Have to Die to Use

There are some great new plan designs out there from an excellent A+ rated carrier by the name of Western Reserve Life from Ohio. These plans offer three additional benefits in addition to the standard death benefit.

The "terminal Illness" benefit can be triggered by the insured's doctor advising him that he will possibly die from his diagnosed illness in less than 12 months. 100% of his face amount can be taken prior to his death for whatever expenses he or she would like to use it for. The next benefit is the "critical Illness" benefit that can pay up to 90% of the death benefit if the insured is diagnosed with a illness such as a heart attack, cancer, stroke, kidney failure and several other critical conditions. Last but not least is the "Chronic Illness" benefit (90%), that can be activated by an illness that prevents the insured from doing some of the normal daily activities such as clothing himself, bathing or eating. Situations like these often will put the person in a nursing home type facility and the Western Reserve plan will then be able to pay benefits in the form of monthly fee expenses similar to a "Long Term Care" policy.

These new benefit packed life insurance plans offer a lot more value for your money when compared to a typical term policy and these new plans can be purchased for up to 40 years instead of the conventional maximum of 30 years. A plan design like these Advantage Term products could and will come in handy especially in these bad economic times where money is so tight for the average American family.