Table of Contents
- About This Insurance
- Financial Analysis Needs
- Simple Assessment Form
- Benefits
- Conditions
- Coverage
- Premium Rate
- Important Notes
- Real-Case Examples
- F A Q
About This Insurance
At Insufin, as your trusted insurance advisor, we always recommend choosing separate insurance policies for different needs. However, if you’re looking for comprehensive coverage that combines life insurance with critical illness and disability protection (including long-term care), we suggest our hybrid insurance.
Life with Critical Illness is an affordable hybrid coverage combining both life and critical illness insurance. An amount is payable in the first event of either a critical illness or death.
In case of death, a tax-free amount will be paid to the beneficiary chosen by the client. In case of critical illness, a portion of the life insurance amount is paid as a tax-free lump sum, with no survival period required. The life insurance amount is then reduced by this payment.
By adding Long-term Care Advance to life insurance, the insured will receive a tax-free monthly amount to pay for daily care and expenses when the insured needs it the most.
Financial Needs Analysis Form
Simple Assessment Form
To choose the best and most suitable insurance and to receive an accurate quote, please complete the form below.
***Why is it important to provide accurate personal information in the insurance form? ***
Benefits
- A cost-effective hybrid insurance policy that pays out in the event of either death or critical illness.
- In case of death, the full life insurance benefit is paid tax-free to the named beneficiary or beneficiaries.
- If a critical illness occurs, a portion of the life insurance benefit is paid out tax-free, and the life coverage is reduced accordingly.
- In the event of long-term care needs, the insured receives a monthly, tax-free benefit to help cover care-related expenses.
- In the event of a physical or mental disability that prevents the insured from working, a monthly amount equal to a percentage of their pre-disability income is paid as replacement income.
Conditions
- Individuals aged 18 to 65
Coverage
- From $10,000 to $3,000,000
Premium Rates
Premiums vary based on multiple factors such as:
- Age
- Gender
- Health condition
- Selected plan
- Coverage amount
Important Notes
Main Highlights about this Hybrid Insurance:
- Hybrid insurance products are rare but can offer significant premium savings by paying on the first event, whether it’s death or critical illness.
- Upon diagnosis of a covered illness, a portion of the life insurance is paid out in advance.
- The remaining life benefit is adjusted accordingly.
- The critical illness advance includes coverage for 26 major conditions and surgeries, and 15 early-stage diagnoses.
- If the insured loses independent living capability (temporary or permanent), a separate disability benefit is payable.
- Unlike standard critical illness policies, there is no survival period required for benefit eligibility.
- Depending on your plan, free assistance services are available 24/7 to both insured individuals and their families.
- 24/7 phone support is available during both peaceful and crisis times.
Life Insurance with Long-Term Care Advance – Features:
- This coverage combines two permanent insurance plans in one contract.
- Upon death, the life insurance benefit is paid tax-free to the beneficiary.
- If independent living is lost (after age 65 or 10 years after issue—whichever is later), the Long-Term Care Advance provides a monthly tax-free benefit of 1% of the life insurance value (up to $2,500).
- This benefit starts one month after a 90-day waiting period.
- The cash value of the life insurance is reduced by the amount paid for long-term care. Two scenarios apply:
- If the remaining life insurance value is $250,000 or less, the beneficiary will receive at least 25% of the original amount. The total maximum payout is 125% of the original value.
- If the remaining value exceeds $250,000, the beneficiary will receive 25% of the first $250,000 plus the full remaining excess amount.
Real-Case Examples
FAQ
Can individuals with pre-existing health conditions get life insurance?
Yes. People with health conditions can still apply for life insurance. Premiums and coverage eligibility are assessed based on age, medical history, and other personal factors. Here are a few key points:
- Coverage may be limited: Some insurers may offer reduced coverage or decline applications for individuals with high-risk conditions.
- Higher premiums may apply: Applicants with certain health issues may be charged higher premiums.
- Medical exams may be required: Many insurance companies request a medical exam to accurately assess the applicant’s risk level.
- Specialized policies: Some insurers offer tailored plans for individuals with pre-existing conditions, designed to better meet their needs.
