Page 8 - Ornellas Final Copy PDF

Here are some common questions and the answers to help guide you and

solve your insurance dilemmas:
Life Insurance
Q. Can I use my life insurance while I’m still alive?
A. Yes, think about the New Life Insurance. This is coverage for you and
your spouse now and in death. There are Accelerated Living Benefit
Riders that you can take advantage of, such as:
a. Critical, Chronic and Terminal Illness coverage
b. Life Insurance with Long Term Care Riders
c. Life Insurance with Cash Value

Q. I need a loan and my bank is asking for a Life Policy to secure a loan. Can I
use my life policy for this?
A. Yes, this is quite common. Think about having a 1-million-dollar policy
handy at all times to secure these types of loans. You can be the owner
of the policy and when the time comes, the loan will be paid first, and
the remaining balance paid to the beneficiaries.
Q. My health is declining, and I need my policy coverage to go longer. Is this
possible?
A. Yes. You can have your policy reviewed and possibly have it converted
for a longer term. You can also reduce the death benefit and extend it
out to age 100 plus.
Q. I don’t need my Life Insurance any longer. What can I do with it?
A. You can convert it to a policy with a lower Death Benefit and extend it out
to age 100 plus. You can also keep the policy and reduce the Death Benefit
for a reduction in your premium.
Q. My parents and/or grandparents have several life insurance policies, can I
use them to help them with retirement?

A. You can have an agent review the current policies to confirm what the
current value is. You also have the option to do a cash value exchange to a
policy with Long Term Care type options. There is also the possibility of
cashing out the policies to assist with care or provide additional income.
The policies can be converted to lower the Death Benefits to age 100 plus.
Or you can do a Life Settlement.