Income & living benefits
Modern permanent policies often include living benefits — features that may help if you face a serious illness or want access to cash value during your lifetime.
Underwriting steps
Application → health questionnaire → records review → possible exam → offer. Some carriers offer accelerated underwriting with no exam.
Beneficiaries explained
Primary beneficiary receives the death benefit. Contingent beneficiary is the backup. You can name multiple, with percentages.
Living benefits overview
Accelerated death benefit riders may let you access part of the policy value if diagnosed with a qualifying illness. Availability and amounts vary by carrier and state.
Cash value access
Permanent policies build cash value over time. You may borrow against it or withdraw, but doing so reduces the death benefit and may cause the policy to lapse if not managed.