In past articles, I emphasized the importance of providing our loved ones with financial security no matter how small or large our family is and the size of the estate. What counts is how we plan to provide our loved ones with “options” and not obligations, based on most often – limited resources. The good news is late last year; we discovered a Life Insurance product that would address most of our lifetime major concerns. This was the result of our continuous search for finding what is best for our clients in need of lifetime protection on different circumstances that might happen during lifetime – though “untimely” passing away is certain.
The product we would call “5 in 1” Life Insurance Policy would address the following lifetime concerns:
- Dying too soon (Life Insurance Protection)
- Living too long (Long Term Care Protection and Supplementary Retirement Income source using the “loan value” of the contract)
- Getting disabled (Disability Insurance Benefit Rider to partially replace income – with age, income and occupation qualifications)
- Getting sick with Critical Illness (Acceleration of some or all of Life Insurance Base Benefit when insured is diagnosed with a critical illness or condition).
- Getting sick with Chronic Illness (Acceleration of some or all of Life Insurance Base Benefit when insured is diagnosed with chronic illness or condition). A Chronic Illness is an illness or physical condition that requires substantial supervision by another person to protect the insured from threats to health and safety due to severe cognitive impairment). Also known as individuals – young or old requiring Long Term Care.
This type of Life Insurance Policy could be the last one you would ever apply for because of the multiple benefits it offers. However, it requires financial and medical underwriting and not everybody would qualify. If you’re personal Insurance Professional has not brought up this sensational and highly innovative Life Insurance yet, please ask them to call us or you may call us directly to discuss your unique situation and help determine what is good for you.
Radi Miranda, LUTCF is the Past President of the North Orange County Life Underwriters Association, Asian Business Association of Orange County, Filipino American Chamber of Commerce of Orange County and the Orange County Presidents Council. He is President & Managing Associate of CNMA Multi-Insurance Agency with offices in Placentia, CA. He has been in the business of helping to provide self-confidence among his clients through financial services since 1981. He can be reached by email at firstname.lastname@example.org or call directly
Registered Representative with securities offered through Transamerica Financial Advisors, Inc., (TFA) member FINRA/SIPC. Non-securities not offered through TFA. 650 Duarte Road, Suite 468 Arcadia, CA 91007 – Telephone No. 1-626-245-8787.