5 Benefits of a Living Benefit Loan

A living benefit loan can be a literal lifesaver for people facing critical illness. And, for those facing a terminal diagnosis, it can help ease the pain of their last days. Cancer and other serious medical illness can be a major financial obstacle: Some estimates are that more than 4 million Americans are suffering from financial stress related to cancer.

What is a living benefit loan?

Life Credit’s Living Benefit Loan program allows those with at least $75,000 in life insurance coverage to borrow up to half of their life insurance policy’s death benefit—no credit checks, no restraints, and no expectations.

Here are just a few of the advantages a living benefit loan can have for you and your family:

  1. Zero loan payments: The policyholder has no obligation to personally repay the loan; the policy’s survivor benefit is responsible for the loan, and beneficiaries will then receive the rest of the death benefit. And, because the loan is secured by your life insurance coverage, you don’t need to offer collateral.
  2. Fast turnaround: A living benefit loan is a way for those in serious financial straits from a medical crisis to get cash fast. Medical bills for therapies, medications, and treatments can pile up quickly and can threaten to overwhelm someone who is already dealing with life or death matters. Instead of jumping through lots of hoops and red tape, clients typically receive their funds within three days of application.
  3. No premiums: Once you receive a living benefit loan, you can say goodbye to your insurance premiums, which allows you even more cash to help with your expenses.
  4. Flexibility: Life Credit does not have requirements for how you use the living benefit loan. You can pay off medical debt or check a few things off your bucket list—we trust that you know best how the money can help your family in a time of need.
  5. Easy application: There is no credit check for a living benefit loan, so you don’t have to worry about being disqualified because of poor credit or past bankruptcies. We work with a wide range of life insurance policies—from term to whole to group—so, unlike other insurance loan programs, it’s easy to qualify and just as easy to apply. And, if you have any questions, specialists are available to assist you along the way.

The first step is to contact Life Credit and speak to a professional counselor who will walk you through our life insurance loan application process. Call us at 888-274-1777.

Life Credit Company

We are a licensed consumer lender that is dedicated to providing financial assistance for patients who are facing serious illness. With a Living Benefit Loan, from Life Credit Company, you can receive up to 50% of your life insurance policy’s death benefit today. Whether you need to catch up on medical bills, consolidate debt or take your family on a dream vacation, this is your money to spend without restrictions. If you have at least $75,000 of life insurance and have been diagnosed with cancer or other serious medical condition, you may qualify for a loan. Contact us today to speak with a professional counselor who is standing by to assist you.

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