What is Accelerated Death Benefit?
A. An accelerated death benefit is a mechanism for an individual to collect their death benefit in advance based on a terminal illness or a significant impaired life expectancy. How accelerate death benefits are structured varies by the type of contract. They are frequently set up to allow an insured diagnosed with a terminal illness to collect a set percentage to a maximum dollar amount of their death benefit in advance. This accelerated death benefit can then be used to assist the family with the expenses of a terminal illness. For more information concerning the Accelerated Death Benefit, please contact our customer service area.
