The simplest way to explain life benefits may be as follows: Where death benefits payout at the time of the policy holder’s passing, living benefits can be claimed while the policyholder is still living.

Living benefits come from the cash value of a life insurance policy if you are buying cash value life insurance. If you call Advantage Insurance Network and ask for a cash benefit policy, you will be paying a higher premium, but you will also be able to reap a number of benefits, owing to the cash value that you are building in your policy.

Examples of Living Benefits

• Loans

You can borrow against your cash value in your policy. This means that if you want to put a down payment on a house or buy a new car, you have options available to you.

• College savings

For most policyholders, this means sending the kids off to the college of their choice.

• Tax deferment

The cash value that you build up in your policy is tax-deferred, meaning that you won’t pay any taxes on that money until you are ready to withdraw it.

For some policyholders in Cincinnati, OH, a cash value policy may be unnecessary. If you already have savings and don’t feel the need to put any cash value into your life insurance policy, you may simply want to go for a more streamlined policy that will pay out death benefits to your loved ones.

In either event, if you want to ensure that you and your family have the coverage that you need, give Advantage Insurance Network a call or send them a message and see what they can do for you.