Chronic Illness Rider - Life Insurance with Living Benefits

At Missouri Farm Bureau Insurance, we’ve moved beyond the old adage “Life Insurance isn’t for you, it’s for the ones you leave behind”. The Chronic Illness Rider is the newest addition to our rider lineup and a policy add-on worth exploring when considering managing health care expenses as one ages. This rider can customize a whole life policy by providing life insurance policy holders with a new option to access life insurance funds while living and experiencing the impacts of a chronic illness.

How can the Chronic Illness Rider help you?

Chronic illnesses are, unfortunately, something many Missourians will face in the future. Whether it’s heart disease, complications with diabetes, Alzheimer’s Disease, Dementia or other unnamed chronic illnesses, these health conditions might leave you confined to a hospital or care facility for an extended period, or you might be required to pay for expensive medications or at-home care. Consequently, the negative effect of bills or lost income can become daunting, and keeping up could become increasingly difficult. Adding the Chronic Illness Rider to a whole life insurance policy would provide peace of mind should you later encounter such a stressful situation. With the Chronic Illness Rider, not to be confused with Long-Term Care Insurance, insured individuals have the option to access some or all the funds within a life insurance policy’s death benefit to help pay for medical expenses while still living. This rider can become a supplement for extra expenses that can make a significant difference in managing the cost of chronic illnesses.

Do you qualify?

If you permanently lose the ability to feed and dress yourself without assistance (there are other qualifiers, as well, known as ADLs, or Activities of Daily Living) you may be able to use some or all of your life insurance proceeds while living. Qualifying for the benefit must be verified by a physician. This coverage is available for purchase when you are between the ages of 35 and 70 and buying our Century Series Whole Life insurance policy.

Make the decision that works for you.

With the added stress that comes with living with a chronic illness, the Chronic Illness Rider can help relieve some of the pressure from your shoulders and provide you with some peace of mind during trying times. Our goal is to make your life easier. Contact your Missouri Farm Bureau Insurance agent today for full details and to find the best options for you.

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