We all have hopes and dreams of what we can achieve in life. Many times those hopes and dreams involve caring for others or providing for those we love. Very simply put, a properly designed life insurance policy can make sure that you and those you care about can pursue those dreams regardless of the unexpected events that may overtake you. Life insurance is about much more than a death benefit; it can also provide living benefits.
For example, consider the case of a 52 year old father of two with a couple of term life insurance policies in force. A few years after those policies were issued, he had a health event that affected his ability to obtain additional life insurance. Using the provisions in one of the policies, we were able to convert the term insurance to a permanent policy without medical underwriting, and thus get the new policy at a better rate than his current health would otherwise allow. The policy was designed well from the beginning or I may not have been as successful with helping him keep the protection he wanted.