Living Benefits Insurance
LB insurance provides a benefit in the event of serious illness or injury. Without adequate preparation, a critical illness or injury usually leads to financial hardship. Survivable illnesses and injuries are far more common than premature death and therefore, the financial risk needs to be covered. Some statistics to consider: by age 65, a healthy 30 year couple has a combined 62% likelihood of long term disability, 41% of a critical illness and 12% chance of death.
There are two primary kinds of insurance to protect against illness or injury: critical illness insurance and disability insurance