A 72 year old man with a terminal illness decided on some alternative treatments that were not covered by his health insurance policy. The cost of alternative treatments is often not covered and is an out of pocket expense. He needed cash to maintain control of the direction and quality of his care.

A review of his insurance policy and health records showed that he would qualify for a life insurance advance. He was able to get the $175,000 advance he needed to cover the cost of his treatments, travel or any other expense he would incur. He kept his beneficiaries the same and still owns the life insurance policy.

When he passes away his beneficiaries will receive the death benefit once the lump sum cash advance, future advanced premiums, fees and interest are deducted. The longer he lives, the less his beneficiaries will receive because of the premiums that need to be paid and interest.

If he survives much longer than anticipated he is under no obligation to make future premiums or pay back the advance other than from the proceeds of his insurance policy.