Jay Taylor thought he had a bad case of the flu. After an ambulance ride, hospital stay, and numerous blood tests, the 63-year-old grandfather received devastating news: he had leukemia. The Newport Beach, California resident quickly retrieved his life-insurance documents, which had been stored away for over two decades. “One of the first things you think about when a doctor says you have incurable cancer is, ‘How will I protect my family?'” he said.
Life insurance policies often include accelerated-death benefits, which allow policyholders to receive cash advances before they die. However, obtaining these payouts can be challenging. Taylor’s experience highlights the wrenching realities faced by individuals with terminal illnesses and the complexities of accessing these benefits.
