Living Benefits


Benefits That Reach You Before Your Passing

What is an Accelerated Death Benefit Rider?

An accelerated death benefit rider (ADB) is a benefit that may be attached to a life insurance policy that permits the policyholder to receive cash advances from the death benefit in case of being identified as having a terminal / chronic / critical illness.

Many individuals who choose this have less than one year to live and utilize the cash for other costs along with treatments needed to remain alive.

Living Benefit Rider Definitions

Terminal Illness

Having terminal illness means you have a life expectancy of 12 months or less.

Chronic Illness

Having a chronic illness means you’re unable to perform 2 of 6 Activities of Daily Living without assistance, or you’re severely cognitively impaired for a period of at least 90 days. of 12 months or less.

Critical Illness

Being critically ill means you’ve been diagnosed with a health condition such as a heart attack, stroke, cancer, end stage renal failure, ALS, a major organ transplant, blindness or paralysis resulting from specific underlying conditions.

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What are Living Benefits on a life insurance policy?

Living Benefits provide access to cash from a life insurance policy that can be used while you are alive. Living Benefits are also known as Accelerated Death Benefits. Benefits are based on an insured incurring a chronic, critical, or terminal illness as defined in the policy. Refer to the policy contract for complete requirements.

What is the difference between Living Benefits on a life insurance policy and Accelerated Death Benefits?

Living Benefits and Accelerated Death Benefits are termsused interchangeably on a life insurance policy. Both offeraccess to funds that can be used for chronic, critical andterminal illnesses. When you choose to use your livingbenefits, you are accelerating your life insurance policy’s faceamount so that you can use the funds while you are alive.

When Do The Living Benefits Become Available

The accelerated death benefits may be available when a person has a terminal, critical or chronic illness.

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