Life Insurance Benefits Could Be Expanded for Living

By: Brian Johnson Email
By: Brian Johnson Email

Thursday a bill passed the House that would allow some life insurance policy benefits be paid out prior to death for a person diagnosed with a chronic illness.

Chronic illness is defined as a permanent medical condition that makes an individual unable to eat, toilet, bath, groom dress or ambulate. Chronic illness also includes mental illness such as cognitive impairment or dementia.

The bill is sponsored by Rep. Tom Cochran, a democrat from Mason.

Coming up on WILX News 10, what the bill means for the elderly, and those worried about their parents' financial futures as they age.


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