Cancer Life Insurance Houston Texas TX
Reader’s Question:
Our family has history of cancer. I dread the thought of witnessing the painful death of my aunt due to cancer. She was so unprepared and under insured that my parents had to take care of her medical bills. I am still strong and able and I want to make sure I will be prepared in case something dreadful happens to me like a terminal illness or cancer. Do I have options for terminal illness life insurance in Houston, Texas?
Yung
Houston, TX
Well, not all life insurance companies offer accelerated death benefits, which is a rider intended for terminally ill patients, in long term care, or with catastrophic diseases. This is a type of benefit that is paid by some life insurance companies to their policy holders who have life expectancy of less than 1 year.
Terms and conditions applied to this benefit are actually dependent on the life insurance company, as this is a privilege which originally was intended for HIV-AIDS patients in the 80’s. As years went by, the privilege was extended to other terminal illness and permanent home confinement.
The privilege is given to policy holders who need money for medical procedures and other terminal illness expenses. What the policy holder gets from accelerated death benefits income will not be taxed and not even income tax in some states. Most life insurance companies will charge higher insurance premium for this benefit, while others will charge only if accelerated benefits is availed by the policy holder.
Different life insurance companies will have different policies on accelerated death benefits and it is best for you to call your trusted local provider in Houston, Texas. You can also compare premium rates for life insurance with such rider by using useful websites like this one, which can route you to free quotes online using the zip code form for life insurance rates comparison.
Tags: accelerated death benefits, cancer life insurance, long term care insurance, long term care insurance leads
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