Our Distinctive LILOC Program Advantages
Helping to restore control and choice to the lives of families living with cancer is a source of personal and professional pride to all of us at Fifth Season.
We consider it a privilege to be Funding The Fight Of Your Life in a way that is every bit as practical and fair as it is unique — with benefits that underscore our commitment to simplifying your life as much as possible during a complicated and challenging time.
Financial Freedom —There are no restrictions on how you and your family choose to use your Fifth Season LILOC funds. Whether it’s completing your children’s education or simply paying off existing debts so that you and your family may focus on living each day to the fullest without the distractions of financial stress, the choice of how to utilize your LILOC advance is entirely your decision.
Zero Obligation — In keeping with our goal of providing you with renewed financial freedom, neither you nor any member of your family has any personal obligation to either repay funds acquired through a LILOC transaction or to make monthly payments. Upon policy maturity, all advances plus interest, origination fee, life insurance premiums, and other ancillary fees are repaid automatically to Fifth Season from your life insurance proceeds.
Flexibility — Your Fifth Season LILOC transaction is a financial option which enables you to utilize your advanced policy proceeds in one lump sum (up to 75% of your qualified policy’s face value) or in smaller increments that may either supplement your day-to-day financial requirements — or flex instantly to accommodate unanticipated financial needs. And if you choose to pay down your LILOC (although you have no obligation to do so), you may re-borrow the amounts repaid at a later date should the need arise. However you decide to use your Fifth Season LILOC funds — the money generally is tax-free.
Family Security — Your existing life insurance policy is not jeopardized by taking advantage of our Fifth Season LILOC program because your life insurance premiums are paid from your LILOC account, thereby preserving your family’s insurance protection.
Surplus Funds — Just as there are no restrictions on how you choose to use your LILOC funds, it’s also important to remember that the full balance of your life insurance policy proceeds above and beyond repayment of advances, interest, origination fee, life insurance premiums, and other ancillary fees are paid directly to your family or beneficiary. As in all aspects of our life-enhancing program, the bottom line is peace of mind.
No Trade-Offs — Qualifying for Fifth Season’s LILOC program generally does not jeopardize or eliminate your eligibility for Medicaid benefits or any other assistance entitlements, nor does it generally disqualify any member of your family from receiving financial benefits provided by state or federal assistance programs. That’s another aspect that makes our LILOC special — the fact that generally you do not have to sacrifice any other form of financial assistance in order to receive ours. To the contrary, our focus is on adding a new level of control and choice to your life.
No Red Tape — No credit checks. No medical exams. No current employment requirements or demonstration of repayment ability. Your specific Fifth Season LILOC arrangement is determined solely on the basis of a qualifying medical profile and an existing life insurance policy (or multiple policies), whether individual, group, or employer-based. In fact, LILOC transactions work with most types of life insurance policies that are both incontestable and assignable. No invisible costs. No hidden terms or conditions. Our entire qualifying process is designed to be easy and free of complications.
No Application Fees — In keeping with our mission to simplify your life, there are no application fees or out-of-pocket expenses required to apply and confirm eligibility for Fifth Season LILOC benefits. If, after the qualifying process is completed, you decide to accept the proposed LILOC, an origination fee is deducted from your advanced proceeds, and you will incur a state-regulated interest charge, but without any required monthly payments.
Constant Support — All of us at Fifth Season have witnessed firsthand the financial consequences and challenges confronting families living with cancer. That’s why you will find experienced and compassionate LILOC Counselors on call to assist you — answering your questions thoroughly and knowledgeably, helping to make the application and eligibility process both simple and quick.
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