Living Benefits

Benefit from your life insurance during your lifetime

The Power of Life Insurance
In the unfortunate event of your death, losing you will be hard enough for your family. With a life insurance policy, your family will be protected against the loss of your income. Your family will receive the Death Benefit of your policy federal income tax free to help with burial costs, continue their standard of living, help with college expenses and more. For example, did you know that your Columbus Life policy includes a rider that can give you access to your death benefit while you are living?

Living Benefits
Columbus Life’s Life Plus Accelerated Death Benefit Rider®¹ gives you the power to access a portion of your life insurance policy’s death benefit while you are still living. This valuable rider is available on all life insurance policies offered by Columbus Life at no additional premium². This benefit gives you access to the cash value and death benefit of your policy in the event of a Specified Medical Condition, Terminal Illness, or a Chronic Illness (inability to perform two out of six Activities of Daily Living³). The money you receive can be used to help pay medical bills, mortgage and home maintenance costs, or anything you want (a vacation with your family). In many instances, these benefits can be received tax-free.

A Real Life Example
This is a real story about how living benefits can give a terminally ill person dignity. It is about a guy we’ll call Bob. Bob was in his mid fifties. His kids were grown. He and his wife were empty-nesters and happy grandparents. They were looking forward to the future when Bob contracted terminal cancer. His doctor told him he had only a short time left. Bob decided to exercise his Accelerated Death Benefit. Do you know what he did with the money? He built a swimming pool in the back yard! He had always wanted one, and doing it now became important to him. The pool would be a great place for the grandkids to gather and their visits would keep Grandma company. Every time they came to Grandma’s house and played in the pool, they would think of Grandpa Bob. The pool became part of his legacy. Exercising the rider gave Bob dignity and the ability to choose to give to others during a difficult time when a lot of his dignity and choice was being stripped away. That’s the power of an accelerated death benefit demonstrated.

Take the Next Step
If you think a Columbus Life policy with Life Plus Accelerated Death Benefit Rider® is the right strategy for your plans, it’s important to work closely with your financial professional. Contact your advisor today to find out how this planning solution can help protect your future and that of your loved ones.

More Information

¹ Specific rider terms, conditions, and availability varies by state.
² Additional charges may apply.
³The six Activities of Daily Living are routine daily activities generally considered necessary for a self-sustaining person to remain independent: eating, bathing, continence, dressing, toileting, and transferring. Some states define Chronic Illness as Permanent Confinement to a Nursing Home. Please contact your financial professional for details on your state. Advance will reduce the death benefit and interest will be charged. The advance may be increased to keep the policy active. Rider series CLR-179 0707, CLR-179 1208, CLR-179 1308, CLR-201 1208 and CLR-201 1308.

Updated 01/08/2014