As you know my family has a long history of cancer. We have all been touched by cancer in some shape or form, and I am waiting for my BRCA test results to come back. When it comes to cancer, there is one thing you don't want to have to think about... money. That's why I want to open up a discussion today to help you find out "What Is A Living Benefit Loan?" and answer the questions you may have about these types of loans.
Sometimes cancer is something we can prepare for. If you know you carry the genetic mutations you can make a plan. Many people however, have no clue they are at risk, or may not even be gene carries and they find themselves fighting cancer and completely unprepared financially to do so. I feel blessed that I have great coverage with Tricare, but I realize that could change at any time. I also know from personal experience that everyone is not so lucky.
That's where Life Credit Company comes in. Life Credit Company offers financial help through their Living Benefit Loan program. There are nearly 4.1 million cancer patients in the US that are suffering financially, while I sincerely hope you aren't one of them, if you are I would highly recommend you check out your options through LCC.
So, how does a Living Benefit Loan work? When you apply for a living benefit loan, you can receive up to 50% of your life insurance policy's death benefits now. I understand how that can seem like a scary thing. Maybe you were planning to gift family members with a portion of your life insurance, or maybe you're afraid you will leave your family with unpaid debt, but let me ask you this... Is your health worth taking a risk? If I knew my parents chose to forfeit health care over leaving behind money to pay off their home, I would be livid. I would rather see my parents do all they can to be here with me now, than worry about what I will do in the future. I'm sure your family would feel the same way.
With a living benefit loan you will not be required to make loan payments or incur any out-of-pocket expenses. Ultimately the loan is repaid from the policy’s death benefit proceeds with the remainder going to the beneficiaries of the policy. They will even cover all of the policy’s future premium payments. It's also important to note that loan proceeds can be used by the borrower for any purpose without restriction.
Life Credit Company is a licensed consumer lender that provides unique financial solutions to the cancer community. In December of 2012, they launched the Living Benefit Loan Program which has already delivered over 15 million dollars of funding and improved the lives of countless individuals.
If you're a cancer patient and you are looking for financial help, please look into this service. They have an A rating from the BBB for a reason!
~This is a sponsored post. All opinions and stories are my own.