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The Alemian File; Episode 7- Major Illness

By David Alemian

Major medical illness is one of the seven retirement killers because it can absolutely kill your retirement plans.

During your working years a critical illness such as a heart attack, stroke, or cancer can devastate your retirement nest egg. Health insurance is good, but it doesn’t pay your mortgage, and it won’t put food on the table. Moreover, the average couple retiring today at age 65 will have over $275,000 in uninsured medical expenses, and if long term care is required that number skyrockets from there.

What can you do to financially protect yourself? Use a permanent cash value life insurance policy with living benefit riders as your primary retirement savings vehicle. The policy can grow to provide you with life long, tax free retirement income, and the living benefit riders will financially protect you from major medical illness.

There are two types of living benefit riders. The first one is called a critical illness rider. Depending on the company and the policy, it can provide a benefit of up to one million dollars in cash, tax-free, if you are stricken with a covered critical illness, such as a heart attack, stroke, cancer, blindness, ALS disease, or end-stage renal failure. The money is paid in a lump sum, in addition to any other insurance coverage you may have.

The second living benefit rider is called a chronic illness rider it’s a great alternative to expensive long term care insurance. It provides huge financial benefits if you cannot perform two of the activities of daily living, or if you have cognitive impairment, dementia, or Alzheimer’s disease. Just like the critical illness rider, this benefit is paid in addition to any other insurance coverage you may have.

If you have questions, send an email to David@TheAlemianFile.com, because I answer every email I get.

Free Webinar

Before I go, I have a special invitation for you. On Wednesday, March 30th, 8:00 PM Eastern time, 5:00 PM Pacific, save the date!!!

My friends at Next Generation Trust Services are presenting a live webinar on self-directed IRAs. I’ll be on the webinar too talking about the Seven Retirement Killers. We’ll have a live open question and answer period and you can ask me any question about retirement you like. It’ll be a great opportunity for us to interact together in a live open forum. There is no selling involved at the webinar. It is for educational purposes only.

Please register for How to Avoid the 7 Retirement Killers Webinar on March 30, 2016 8:00 PM EDT at:


In the meantime, check out and “LIKE” The Alemian File Facebook page, or simply go to the www.theAlemianfile.com. Absolutely make sure you come back here next week to for another edition of the Alemian file.

About David Alemian

Successfully creating affordable retirement plans guaranteed to last a lifetime is a unique, specialty skill. It’s a challenging arena but respected writer David Alemian makes it look easy. Alemian is a leading retirement expert and nationally recognized authority whose expertise is shared via video columns, numerous journals, and talk-shows.

His national recognition results from both revolutionizing and revitalizing how organizations and individuals like you and me plan and save for retirement. Alemian is considered “The Go-To Guy” for creating and implementing absolutely irresistible, lifetime retirement pension programs.

Formerly the host of “It’s About Money” Radio Show, Alemian has also produced and is featured in over 200 financial education videos. Additional content can be found in many well-respected, publications including: MD Magazine, Physician’s Money Digest, Physicians Practice, Journal of Clinical Oncology, Consultant Live, Psychiatric Times, Cancer Network, OB/GYN.net, and The Healthcare Executives Network.