I have been looking at the Western Reserve Life with living benefits. Their premium is higher but it has the critical and chronic illness riders built in. They are not charged separately but as the premium for their term is higher there is a charge, just not optional.
I priced out ltc, critical illness, and a term policy and it was higher than the term with the living benefits. For example, I was going to get a 100k term policy which would give me access to up to 2% of the policy for chronic illness and up to 90% on critical. I understand that would decrease the death benefit so I was just going to take out more term, cheaper on another policy. Would this not be wise thinking? Please advise. Thanks.
I priced out ltc, critical illness, and a term policy and it was higher than the term with the living benefits. For example, I was going to get a 100k term policy which would give me access to up to 2% of the policy for chronic illness and up to 90% on critical. I understand that would decrease the death benefit so I was just going to take out more term, cheaper on another policy. Would this not be wise thinking? Please advise. Thanks.