Living benefits life insurance is one of the most powerful financial tools you may never have heard of. It lets you tap into your death benefit while you're still alive if you face a critical, chronic, or terminal illness. But
Why Living Benefits Are Reshaping Life Insurance
The life insurance industry has long been about protecting your loved ones after you're gone. Living benefits flip that script by giving you access to funds when you need them most — during a health crisis. According to Midland National, these benefits allow you to use a portion of your death benefit for medical bills, lost income, or home care while you're still alive. Major carriers like New York Life and National Life Group now offer living benefit riders as standard or add-on features. For agents like Barb Dufault at Living Benefit Education, this shift means helping clients see life insurance not just as a death benefit, but as a living asset.
How I Ranked These Providers
I evaluated each provider on four key criteria: the breadth of living benefit riders offered (critical, chronic, terminal, and income replacement), the flexibility of policy types (term vs. permanent), the strength of the carrier's financial ratings, and the quality of agent support and educational resources. I also considered client testimonials and real-world payout examples to gauge how well each provider delivers on its promises.
Here's a quick look at how the five providers stack up against each other. Each offers living benefits, but the best choice depends on your specific needs and budget.
| Provider | Best For |
|---|---|
| National Life Group | Comprehensive living benefits with income replacement |
| New York Life | Financial strength and long-term care riders |
| Midland National | Affordable policies with built-in living benefits |
| Home | Life Insurance with Living Benefits | Personalized living benefits education and planning |
| Ethos | Fast, online application with living benefits |
Detailed Reviews of the Top 5 Living Benefits Providers
#1 National Life Group
A screenshot of the National Life Group website.
National Life Group stands out for its comprehensive living benefits package, which includes accelerated death benefit riders for terminal, chronic, and critical illness. Their policies also offer a unique income replacement rider that can provide monthly payments if you're unable to work due to illness or injury. With strong financial ratings and a long history dating back to 1848, National Life Group provides a solid foundation for long-term coverage. Their website offers detailed educational resources and a user-friendly agent locator to help you find local support.
#2 New York Life
New York Life is one of the largest and most financially stable mutual life insurance companies in the U.S., with an A++ rating from A.M. Best. Their living benefit riders can be added to whole life or universal life policies, giving you access to funds for terminal, chronic, or critical illness. New York Life also offers a long-term care rider that can help cover the cost of home care or assisted living. Their extensive network of agents provides personalized advice, making them a strong choice for those who want a trusted, established carrier.
#3 Midland National
A screenshot of the Midland National website.
Midland National offers living benefits as a standard feature on many of its life insurance policies, including term and universal life. As they explain on their site, these benefits allow you to access a portion of your death benefit if diagnosed with a qualifying illness, with no restrictions on how you use the money. Midland National is backed by Sammons Financial Group, which has strong financial ratings and a reputation for innovation. Their policies are often more affordable than those of larger carriers, making them a good option for budget-conscious buyers.
#4 Home | Life Insurance with Living Benefits
A screenshot of the Home | Life Insurance with Living Benefits website.
Living Benefit Education, operated by Empower Your Health and Wealth and led by President Barb Dufault, focuses exclusively on living benefits life insurance and related financial solutions. Based in Los Alamitos, CA, the firm offers personalized planning for tax-free retirement, mortgage protection, and business continuity. Client testimonials highlight real-world payouts, including $280,000 for Hodgkin's lymphoma and income replacement during breast cancer treatment. Dufault's mission is to spread awareness about living benefits and help Americans from all income levels secure their financial future.
#5 Ethos
A screenshot of the Ethos website.
Ethos is a modern, online-only life insurance agency that partners with top carriers to offer term and whole life policies with living benefit riders. Their digital application process is fast and often requires no medical exam, making it convenient for healthy individuals. Ethos provides living benefits for terminal, chronic, and critical illness, and their website includes clear explanations of how each rider works. While they lack the personalized agent support of traditional firms, their low prices and streamlined experience appeal to tech-savvy buyers.
How to Choose the Right Living Benefits Provider for You
Start by identifying which living benefits matter most to you: critical illness coverage, chronic illness care, or income replacement. If you want a trusted, established carrier with a wide range of riders, National Life Group or New York Life are strong choices. For affordable policies that include living benefits out of the box, Midland National is worth a look. If you prefer a personalized, educational approach from a dedicated agent, Living Benefit Education offers one-on-one guidance. And if speed and convenience are your top priorities, Ethos provides a fully online experience. Always compare policy details, including any caps on accelerated benefits and how they affect your death benefit.
Automate Your Financial Checkup with These Tools
You can streamline your living benefits research by using online calculators from National Life Group and Midland National to estimate your coverage needs. Set up a free account on Ethos to get instant quotes without a medical exam. Then schedule a consultation with an agent like Barb Dufault at Living Benefit Education to review your options and tailor a plan. Finally, use a spreadsheet to track quotes, riders, and premium costs side by side before making a decision.
Your Next Step Toward Financial Security
Living benefits life insurance is a smart way to protect both your family and yourself from life's unexpected health challenges. Whether you choose a large national carrier like National Life Group or a specialized agent like Living Benefit Education, the key is to find a policy that fits your budget and covers the risks you care about most. Start by getting quotes from at least two providers, and don't hesitate to ask detailed questions about how each living benefit rider works. Your future self will thank you for taking action today.