Q:

What life insurance plans are offered by Alliance Group?

A:

Quick Answer

The primary life insurance plan offered by Alliance Group is its Living Benefits plan. The insurance plan combines traditional life insurance benefits with insurance in case of chronic, critical or terminal illness, notes AnAllianceForLife.com.

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Full Answer

Alliance Group's Living Benefits plan is a type of insurance known as "Accelerated Death Benefit rider." This type of plan is designed to cover insurance policyholders in the event of a terminal illness, notes LifeInsurance.org. It does so by allowing policyholders to access advances on their benefits to help cover the costs of lost income, long-term care and medical expenses. Alliance Group brands its plan as "Living Benefits" to place focus on the benefits that policyholders can access while they are still alive.

Alliance Group allows policyholders to access insurance benefits in the case of terminal illness for 12 to 24 months, depending on the state, as of 2015. The benefits can cover funeral arrangements, treatment costs and other events and processes related to terminal illness.

Chronic illness benefits covers costs related to care. The company defines "chronic illness" as the inability to perform at least two everyday activities, or cognitive impairment. It offers annual benefits and is capped at 24 percent of the final death benefit.

Alliance Group's critical illness coverage covers costs related to serious diseases such as cancer or kidney failure. Benefits are paid as lump sums.

In addition to living benefits, Alliance Group also offers traditional death benefits that are typically associated with life insurance. Prospective policyholders can contact the company for further details about its policies.

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