Last updated on April 28th, 2015 at 06:36 pm
Disclosure: This is a sponsored post on behalf of Life Credit Company. As always, all opinions are my own. See full disclosure policy here.
Perhaps the most difficult time in anyone’s life is when a family member is facing a serious or life-threatening illness. The stress faced by the patient and the family takes a tremendous emotional toll, but even with insurance, there is usually a large financial burden too. Most health insurance policies have a deductible, not to mention the drug and doctor visit co-pays. That means in the case of a long-term illness, the costs add up quickly. If the patient must take time off from work or stop working altogether, the loss of income can devastate a family.
Someone fighting cancer or another life-threatening illness should not have to deal with the additional stress of unmanageable medical bills or loss of income, and that’s where Life Credit Company can help. Life Credit Company provides financial assistance through its Living Benefit Loan program. With a Living Benefit Loan you can receive up to 50% of your life insurance policy’s death benefit today. You will never be required to make loan payments or incur any out-of-pocket expenses. Life Credit Company will even cover all of the policy’s future premium payments, and loan proceeds can be used by the borrower for any purpose with no restrictions.
If you or someone you love is thinking about this type of loan, be sure you review the terms carefully and think about whether you might have other options besides a loan against your life insurance policy. When you’re in need of cash to continue your treatment or stay in your home, for example, you may want to consider this type of loan. There are pros and cons, however, and I found good information on cancer.org. As with any financial transaction, do your homework.
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