Living Benefits: Accessing Death Benefits While Alive

Some life insurance policies offer living benefits that allow you to access part of the death benefit if you’re diagnosed with a critical, chronic, or terminal illness:

• Accelerated Death Benefit: This rider lets you use part of the death benefit if diagnosed with a terminal illness, helping cover medical bills or other expenses during a difficult time.
• Critical and Chronic Illness Riders: Certain policies offer these riders to cover illnesses like cancer, heart attacks, or severe injuries. Funds can be used for any purpose, whether medical expenses or lifestyle changes.
• Long-Term Care Riders: Some policies allow you to use part of your death benefit to cover long-term care costs. This can be an alternative to traditional long-term care insurance, which is often costly.