Whole Life Insurance is effective for life and never expires. In addition, whole life typically offers an investment element, enabling you to borrow money from the policy, or to cash it in. Term life insurance generally lacks this feature, but provides a lower premium for a specified amount of time. If you currently have a Term policy and would like to convert it to whole life, contact a Box Insurance Agency agent at our life insurance companies in Fort Worth today. In addition, whole life insurance policies can be customized to your needs, and have the potential benefit of adding life insurance riders.
Accelerated Death Benefit Rider
An Accelerated Death Benefit rider is a provision in a life Insurance policy offering financial assistance in the event you are diagnosed with a terminal illness. It enables you to take out a portion of the death benefit from the life insurance policy as cash to cover the costs of medical expenses, treatments, or long-term care. However, any cash received in the advance of death will not be distributed as a part of the death benefit paid to your beneficiaries. It offers the insured and family member’s peace of mind, as it provides money for care that otherwise may not be available. For additional information, contact a Box Insurance Agency agent at our life insurance companies in Fort Worth.
Who Should Consider an Accelerated Death Benefit Rider
Life has a certain amount of uncertainty, and that is why insurance is available. While the unexpected can affect almost anyone, those with a family history of illness should especially consider this rider, as it can provide financial assistance if you should become terminally ill. If you already have life insurance, talk to your Box Insurance Agency agent. The accelerated death benefit rider may be standard with your policy. Otherwise, you will need to add it to your policy to receive its benefits. Contact an agent at our life insurance companies in Fort Worth for further information.
Accidental Death Benefit Rider
An Accidental Death Benefit Rider is also called a Double Indemnity Rider. It’s a provision in a life insurance policy that can provide additional payment if your death occurs as the result of an accident.
However, an accidental death benefit will not pay benefits if death results from service in the armed forces or injuries received in war, illegal activities, self-inflicted injuries, and some hazardous activities. For additional information, contact a Box Insurance Agency agent at our life insurance companies in Fort Worth.
Who Should Consider an Accidental Death Benefit Rider
Those who work in a high-risk environment, a potentially dangerous job, or drive more than the average person, can potentially benefit from adding an accidental death benefit rider to their life insurance policy.
It’s important to note that an accidental death benefit will not pay benefits if death results from service in the armed forces or injuries sustained in war, illegal activities, self-inflicted injuries, and some hazardous activities. For additional information, contact a Box Insurance Agency agent at our life insurance companies in Fort Worth.
Family Income Benefit Rider
The Family Income Benefit rider is a provision in a life insurance policy that specifies for benefits to be paid in installments on a monthly basis, for a specified number of months. Life Insurance benefits are typically paid in one lump sum payment to beneficiaries. Based on the amount of the death benefit or the number of months you’d like your beneficiaries to receive payments, you can determine the plan that works best for your family.
When the insured person is the family’s primary source of income, the Family Income Benefit rider can provide a steady income for your beneficiaries. Contact an agent at Box Insurance Agency’s life insurance companies in Fort Worth for further information.
Long-Term Care Rider
A Long-Term Care rider is a provision attached to a life insurance policy adding coverage for potential long-term care needs.
While a dedicated Long-Term Care policy is available as a separate policy, insuring long-term care needs can also be provided with a long-term care rider.
Who Can Benefit
A Long-Term Care (LTC) rider covers care and services if you become unable to manage your own self-care due to a disability, or cognitive conditions. When you consider that 70% of persons age 65 and older will require some degree of long-term care, an LTC rider to your life insurance policy, or a separate policy is worth your consideration. For additional information, contact a Box Insurance Agency agent at our life insurance companies in Fort Worth.
An LTC rider can cover a variety of care, including in-home care, nursing home care, adult day care, and long-term care facilities, among others. Watch for an in-depth study of Long-Term Care policies in the near future.
Box Insurance Agency’s Life Insurance Companies in Fort Worth offer personalized attention for your insurance needs. Our dedicated insurance agents are only a phone call away for your questions regarding life insurance riders, and provide a broad range of insurance to serve your needs. In addition, we offer financial services and serve Fort Worth, Dallas, Grapevine, and the surrounding areas. Give us a call today for free insurance quotes, and answers to your questions.