A Closer Look At Living Benefits
Jennifer Stockdale • April 9, 2021
Life insurance offers financial security for your loved ones after you are gone, but did you know, that life insurance can also help you while you are still living? Living benefits riders offer added financial security should you encounter health challenges during your lifetime.
What is a Living Benefits Rider (LBR)?
A Living Benefits Rider is an "add on" to your life insurance policy that allows you to use a portion of your insurance policy's face value to pay for medical care and other costs should you be diagnosed with a critical, chronic or terminal illness.
What is the cost to add an LBR to my policy?
There is no additional premium to add the LBR to any new GBU Secure Life or Select Choice Term Life Series insurance policy with a face value of $100,000 or more.
How is eligibility to use my death benefit determined?
You will need documentation from your medical provider in order to initiate this rider. Terminal illness is eligible if life expectancy is 12 months or less. A critical illness is defined as a major health issue such as a heart attack, stroke, cancer, etc. A chronic illness is defined as having severe cognitive impairment or unable to perform two (2) activities of daily living (ADLs). The details and specifics of the riders can be found in the LBR contract and explained by your GBU agent.
How much of my face value can be claimed?
If you are diagnosed with a qualifying illness, you can access up to 95% of your policy's face value. The actual amount you can access will be based on your diagnosis, life expectancy and death benefit amount. Lifetime benefit limits may apply. Any remaining value on your policy will be paid out to beneficiaries as a death benefit.
Are there other riders that can help during my lifetime?
All GBU Secure Life and Select Choice Term Life Insurance Series products offer other riders to help during your lifetime. The Payor Waiver of Premium rider waves premiums if the person paying the insurance premiums becomes totally disabled after six months (not available on Single Premium Whole Life or Annual Renewable Term). GBU's Secure Life (except for Single Premium Whole Life) offers a Guaranteed Purchase Option rider allowing you to purchase additional coverage during certain periods of your life without the need for additional medical exams. Most Secure Life insurance policies offer Spousal and Children's Term riders which allow you to purchase life insurance for your entire family on one policy.
Some riders may not be available in certain states and not all riders are available with all life insurance products. Be sure to talk to your GBU agent to choose the life insurance policy and rider(s) that are best for you and your family.
As we move into the second quarter of another exciting year, I want to take a moment to reflect on our accomplishments and share some of the new initiatives we are implementing in the realms of sales, marketing and community engagement. Over the past year, GBU Life has reached significant milestones thanks to the dedication and hard work of our team and the trust and support of our members. Our sales department has exceeded targets, and we have expanded our reach to more communities than ever before. We have launched several successful marketing campaigns that have not only increased our visibility but have also strengthened our brand's presence in the industry. For this year, our focus will be educating potential new members on the importance of securing their financial futures through life insurance and annuity products while serving their communities as part of our great Society. Looking ahead, we are committed to enhancing our sales strategies to better serve you. We are introducing some tools for our agents to enhance our products. One new tool is our Defined Benefit Annuity program which combines the Future Flex Fixed Index Annuity (FIA) with a software tool that can help determine retirement savings needs and break them down into contributions over time to help you meet your retirement goals. Be sure to keep in touch with your GBU agent to review your plans and products to see how adding an FIA to your retirement planning can help boost your savings efforts
GBU members between the ages of three and nine years old can enter their colored page in this year's contest, which is themed Pawprints on My Heart. Three age categories will be judged as follows: Category I: Ages three and four Category II: Ages five and six Category III: Ages seven, eight and nine Entrants may use crayons, colored pencils, markers or watercolor paints. Entries will be accepted through Monday, August 18, 2025, at 11:59 p.m. EST. The picture on the next page can be reproduced, or copies can be obtained by calling the Community Engagement Team at the GBU Home Office (800-765-4428) or by printing the image above. Cash Prizes for Each Category First prize: $75 Second prize: $50 Third prize: $30 How to Enter Send the three- to nine-year-old GBU member's coloring contest entry with their name and address on the colored page to: GBU Life ATTN: Member Benefits 4254 Saw Mill Run Boulevard Pittsburgh, PA 15227-3394. Or email contest@gbu.org with "Coloring Contest Entry” as the subject line. General Information Judges reserve the right to accept or reject any or all entries. Their decisions will be final. Artwork will be handled at the GBU Home Office with the utmost care. GBU reserves the right to reproduce entries for whatever use it wishes, provided proper credit is given. Permission does not include the sale of such work.
GBU has designated four Community Pillars - Wellness, Education, Charitable Giving and Hometown Hero Support - which are a concentrated list of causes that resonate with our values.
Looking for new spots to explore this winter? Check out these three must-visit places for your next adventure.
Details and deadlines surrounding the GBU Foundation scholarship and grants for 2025.
Looking to try some new recipes this winter?
We've found some tips to keep up your sleeve this winter.
The Defined Benefit Annuity from GBU Life can help you to create a plan for a guaranteed income in retirement by making regular contributions based on your retirement income targets.
Graduating from college is an exciting milestone, but it’s also the perfect time to focus on your financial future. Building on the foundation you’ve already laid the groundwork for with smart money choices will set you up for long-term success. Here are a few key financial products to consider as you take the next step.
Kick-start your child’s journey to financial success with a whole life policy from GBU Life.