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Information about all aspects of finances affected by a serious health condition. Includes income sources such as work, investments, and private and government disability programs, and expenses such as medical bills, and how to deal with financial problems.
Information about all aspects of health care from choosing a doctor and treatment, staying safe in a hospital, to end of life care. Includes how to obtain, choose and maximize health insurance policies.
Answers to your practical questions such as how to travel safely despite your health condition, how to avoid getting infected by a pet, and what to say or not say to an insurance company.

New Uses Of Assets - A Living Benefit From Your Life Insurance Policy


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Because of your current health condition, you may be able to get money from your life insurance now thanks to a feature in both term and permanent life insurance policies known as a "living benefit" or "accelerated death benefit." Even if it's not described in your policy, this feature may be part of your policy, or you may be able to add it for free.

If you only receive a small percentage of the policy as a living benefit, you may be able to sell the remainder of the policy to a third party, if you desire. See: Selling Your Life Insurance Policy for additional information.

As a general matter, any money you receive from a Living Benefit is income tax free.

If you decide to apply for a living benefit, read: How To Apply For a Living Benefit.

For additional information, see:


  • Before contacting the insurance company to inquire about a living benefit, much less applying for one:
    • If your policy is less than two years old: Review the application for the insurance to be certain that all of the information you provided in order to obtain the coverage was accurate. During the first two years of any policy, the insurance company that issues the policy has a right to contest the validity of the policy. You want to make sure that they have no reason to do so.
    • During your initial inquiries about a living benefit with the insurance company or your employer, you do not have to disclose your condition or diagnosis. This doesn’t mean that you won’t be asked about your condition, however. If asked you may politely respond that you don’t wish to discuss it. We recommend you give an insurance company as little information as possible about your current health condition, at least until you are able to determine if you may be eligible for the living benefit.
  • Another means of getting money from a life insurance policy while still alive is a Viatical Settlement or Senior Settlement. For additional information, click here.

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