What Are Living Benefits?
Traditional life insurance pays a benefit after death. But what if you face a serious health challenge while you're still teaching, raising your family, and building your future?
Living Benefits allow you to access a portion of your policy's death benefit early when you're diagnosed with a qualifying:
- Terminal illness
- Critical illness (heart attack, stroke, cancer)
- Chronic illness (unable to perform daily activities)
- Critical injury (paralysis, severe burns)
- Alzheimer's disease or Lewy Body Dementia
This means financial help when you need it most—while you're living.
Why California Educators Need This Protection
51%
of Americans carry medical debt or have outstanding medical bills
For teachers in California:
- Your 403(b) or 457 is designed for retirement, not emergencies
- Taking early withdrawals means penalties, taxes, and lost growth
- Sick days and disability coverage have limits
- California's cost of living makes recovery even more expensive
Living benefits help protect your retirement savings while covering today's emergency costs.
The Gap in Your Financial Plan
You're already doing the right things:
- Contributing to your 403(b) or 457
- Building your CalPERS pension
- Planning for retirement
But what protects you if:
- You're diagnosed with cancer and need to take unpaid leave?
- A stroke requires months of rehabilitation?
- You develop a chronic condition that limits your ability to work?
Living benefits fill this gap—providing funds for medical bills, home modifications, lost income, or any need during a health crisis.