Certain life insurance policies include optional riders that may let you access a portion of your death benefit if you experience a qualifying critical, chronic, or terminal illness.
Living-benefit riders are optional additions to certain life insurance policies. If you experience a qualifying event, they may let you access a portion of your policy's death benefit while you're still alive — money that can help with medical costs, lost income, or simply maintaining your family's financial stability during a health crisis.
Conditions such as a heart attack, stroke, or invasive cancer, as defined by the policy.
An inability to perform certain activities of daily living without assistance, as certified by a physician.
A diagnosis of a terminal condition, typically with a limited life expectancy as defined by the policy.
Living-benefit riders can help cover mortgage payments during a qualifying health event.
Learn MoreLiving-benefit riders are commonly available alongside IUL's death-benefit and cash-value features.
Learn MoreLiving-benefit riders vary significantly by carrier and state, may require an additional cost, and accelerating a death benefit reduces the remaining amount available to your beneficiaries. Qualifying conditions are defined and determined by the issuing carrier.