Mississippi Life Insurance Quotes

A Mississippi life insurance policy is meant to provide for your loved ones once you have passed away however there are times when being able to access the policy benefit while you’re living may be a just as important.  If you’ve been diagnosed with a serious medical condition that requires costly care, having an accelerated death benefit rider on your policy allows you access to the policy benefit to pay for the high cost of the care you may need.  The medical conditions that this type of rider may cover are terminal illnesses, catastrophic illnesses such as cancer, a medical intervention such as an organ transplant, long term care or permanent nursing home care.  The cost of this rider will be a percentage of the premium you pay for your base policy, it may be included in the cost of your whole life policy or can be added as a rider to your Mississippi life insurance policy.  Some Mississippi life insurance companies may also not charge accelerated death benefit rider unless you actually use it however they will reduce the amount of money your beneficiaries receive upon your death to recover the lost interest.  This rider is not intended to replace health insurance or long term care policies because of how it affects the amount of your death benefit.
Another option when faced with costly medical expenses is to consider a viatical settlement.  This is when you sell your whole life policy for approximately 50%-80% of the face value to a viatical settlement company.  If the policy is sold, the beneficiary of your policy is now the viatical settlement company and your beneficiaries will not receive any policy benefits.  By having the accelerated death benefit rider on your policy you can avoid having to sell your policy.
When purchasing a Mississippi whole life insurance policy consider adding the accelerated death benefit as a rider so that there are funds available to take care of you instead of having huge bills that need to be paid by the beneficiaries using the death benefit of your policy.