Life Insurance Accelerated Death Benefit
Oct 30, 2013
Jamie Fleischner

Jamie Fleischner

30 Oct, 2013

If you had 12 months to live, what would you do with your life? If you had a large lump sum of money, how would you spend it?

Did you know that most life insurance policies, including term life insurance come with an accelerated death benefit at no additional charge?

What is an accelerated death benefit? This benefit will allow you to receive up to 75% of your death benefit while still alive if you are diagnosed with something and have a life expectancy for less than 12 months (this may vary from company to company).

The benefits are paid in a lump sum and there is no additional premium to have this living benefit on your policy.

You will still be required to pay premiums on your policy after the lump sum is received.

At death, the remainder death benefit will be paid to your beneficiaries.

For more information about the accelerated death benefit rider, contact Set for Life Insurance today!

 

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Getting the right disability insurance can be downright confusing. At Set For Life, we’ll help you understand the options and work with you to select just the right product for you and your family. These articles will help you understand some of the complexities involved, but we’re happy to walk you through it! If you’re ready to get set, reach out for a quote today!