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Life insurance is a smart way to help protect your family. But what if you had an extra level of protection? How about a living benefit feature to help pay expenses for your care if you are diagnosed with a debilitating condition? Or protection if you need access to a loan*, or for life insurance coverage for your dependents? We’ve partnered with Transamerica to offer you coverage that provides flexible financial protection.
It’s not just for when you are elderly.
Accidents, disease or other illness can cause serious, debilitating conditions at any age. A surprising number of people facing these challenges are younger than age 65.
The costs and care expenses add up.
If you do experience a debilitating condition in your lifetime, the average annual cost of related care is rising — and it may not be fully covered by health insurance, disability coverage or Medicare.
Why should I consider it?
One policy, two benefits — Life insurance for your family and protection to help cover costs for living needs due to a debilitating condition.
Coverage for you and your family — If you enroll in coverage for you, you also can add coverage for your spouse/partner. Term life insurance is also available for children through an optional rider.
Guaranteed issue — No medical or blood tests required to enroll.
Rates won’t increase due to age — Rates are based on age when coverage begins and won’t increase due to age.
Portable coverage — Coverage is yours even if you leave the company or retire.
Future loans* — Borrow against the cash value of your policy once your account grows.
Who is it for? People like me.
Tony
- Tony is 55 and, having watched his own parents’ health decline, wants coverage for potential care needs in the future for himself and his wife.
- He purchases $100,000 in coverage for himself, which will provide a living benefit should he need it, or will support his wife financially in the event of his death.
Eric
- Eric is 38 and the primary bread winner. His spouse is at home caring for their three young kids.
- He likes having life insurance to protect his family, and a living benefit to help protect their financial future.
- Because they’re a one-income family, Eric buys $75,000 in coverage for himself and $25,000 for his wife.
Jan
- Jan is 27 and proactively building a financial plan for her future.
- She likes the idea of life insurance to help a family member if something happens to her. She also likes building cash value for future access to a loan if she needs it.
- She enrolls for $25,000 in coverage.
How much does it cost?
See for yourself. The cost for coverage for you and for your spouse/partner is based on age as of the effective date of the policy, tobacco/nicotine user status and coverage level. Note: For your spouse/partner, coverage options are $25,000 and $50,000 for spouses/partners up to age 65.
How can I learn more?
For enrollment questions
Contact a licensed benefit counselor with Winston Benefits at 1-844-459-8616. Representatives are available Monday – Friday, 8:30 a.m. – 8 p.m. ET. Or, to schedule a session, make an appointment here.
© 2024 CVS Health® and MinuteClinic® | Universal Life with Living Benefits
2062173 03/24