When you get a permanent Whole Life Insurance policy, depending on the company and state you live in, you may also get some extra benefits for free:
Critical Illness Rider – Even though it’s not a Long-Term Care policy, it does have some benefits in the sense that if you are unable to perform 2 out of 6 of your daily living activities such as eating, bathing, toileting, dressing, etc. you can tap into a certain percentage of the death benefit of the policy.
Terminal Illness Rider – Imagine you become terminally ill and are laying on a bed in a hospice facility. Your doctors gave you another 6 months to live. At that point, you can tap into the death benefit of the policy. And some companies give you 100% of the money equal to your death benefit. In other words, you don’t have to die to get your death benefit.
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