Living benefits
Coverage that may help during life, too
Some life insurance policies offer accelerated death benefit riders that may pay part of the benefit if you experience a qualifying chronic, critical or terminal illness.
How they work
Life insurance you may be able to use while living
Certain policies include or offer accelerated death benefit riders. If you have a qualifying event, you may be able to receive part of your death benefit early.
Terminal illness
Typically a diagnosis with a limited life expectancy defined in the rider (often 12–24 months).
Critical illness
Qualifying conditions may include events such as a heart attack, stroke or invasive cancer, as defined by the policy.
Chronic illness
Typically the inability to perform a set number of activities of daily living, or severe cognitive impairment, as certified.
Before you rely on it
Details that vary by policy
- AvailabilityNot every policy, carrier or state offers the same riders.
- DefinitionsEach rider defines qualifying conditions differently.
- Benefit amountsCarriers may discount or limit accelerated amounts.
- Effect on death benefitMoney received early reduces what beneficiaries receive.
FAQ
Common questions
Do all policies include living benefits?
No. Some include accelerated benefit riders at no additional premium, some charge for them and some don’t offer them. We’ll show you what each option includes.
Is a living benefit the same as long-term care insurance?
No. Accelerated death benefit riders are not long-term care insurance, and benefits, triggers and limits differ.