This is a crazy time that we are all living in right now. Who would have thought as we raised our glasses to toast the start of the new year, that 2020 was going to go down in history as one of the worst years ever.
Between the COVID-19 pandemic, civil unrest, unemployment at an all-time high and gun violence on the rise… I just want to grab my family and hide somewhere until it is all over.
For decades I have been telling my husband that I wish we had our own secluded island with a working farm so that we can hide away from the rest of the world. Now he sees why I have been saying it all this time.
There are a lot of people out of work right now, me included. I am not laid off (thankfully), but I am furloughed. Since I work in the school district, it is hard to tell when I’ll get back to work, and if I have a job to get back to when the time comes.
Did you know that there are some life insurance policies that offer something called “living benefits?” Some insurance companies allow you to build cash value through your insurance policy that accumulates over your lifetime. With death benefits, the money is paid out after you die. With living benefits, you can use the funds accumulated while you are still alive.
I did not know that was even a possibility. I am going to have to have my husband investigate our life insurance policy to see if we have a living benefit option.
The living benefits option can be used to help cover unfortunate situations such as unemployment or short-term disability.
There is an organization called People Helping People who promotes financial literacy, with their focus being on families with kids. They provide families with information about life insurance policies that offer the living benefits option.
Some of the things People Helping People helps with is show clients how they can use living benefits as supplemental income for the cost of medication and provide people with instructions on how to use life insurance policies for the down payment of a home, to cover college tuition or even to do things like expand their family through surrogacy.
WOW! Who knew that having a living benefits option in your life insurance policy could be so helpful for both trying times, and for happier reasons such as helping to cover the cost of tuition and a down payment on a home.
People Helping People offers both personal and business to business services and they deal with companies like AIG, Mutual of Omaha, Fidelity and American National. Another words, they deal with major insurance companies.
I personally think this is a great idea. If our current life insurance policy doesn’t have a living benefit option, I may look into People Helping People’s services to help find an insurance company that would suit our needs and cover the costs of are passing, as well as give us the living benefit option.
If you are interested in learning more about what People Helping People has to offer, visit PHPAgencyShark.com. You can also check them out on Twitter (@PHPAgencyShark).
Do you have a life insurance policy? Did you know about the living benefit option? Feel free to comment and share your thoughts on this subject. I always love to hear from readers.
*I have partnered with the brand to bring you this information. Although compensated, the opinions expressed are my own and not influenced in any way.