In some life insurance policies, benefits available before death, in such events as long-term, catastrophic or terminal illness. This benefit first became available when companies offering viatical settlements purchased the life insurance policies of terminally ill individuals from the insurance companies which issued the policies. After extracting a portion of the value of the policy for costs and profits, these companies offered the remainder of the death benefit to terminally ill policy holders. Insurance companies have different rules about how much money can be extracted and how close to death the holder must be to receive benefits early. The remainder of the value of the policy, minus interest charges, is awarded to the beneficiaries upon the death of the holder. also called accelerated benefits.
Related information about living benefits:
- FEGLI Handbook Chapter on Living Benefits
Living benefits are life insurance benefits paid to you while you are still living, rather than paid to a beneficiary or survivor when you die. (They are also known as ...
- Living Benefits
Living Benefits. Life Insurance Benefits You Can Use In Your Lifetime. Permanent life insurance policies offer financial protection in the event of your death.
- What is living benefits? definition and meaning
Definition of living benefits: In some life insurance policies, benefits available before death, in such events as long-term, catastrophic or terminal illness.
- Variable Annuities With Living Benefits: Worth The Fees?
Oct 22, 2009 ... Added features can make a variable annuity suitable for certain investors. Find out if it could work for you.
- AssetBuilder - The Problem With 'Living Benefits' - AssetBuilder Inc ...
Oct 29, 2008 ... Retiring is easy. The hard part is having a steady income from your investments. Many who retired in 1999, for instance, regretted it as the stock ...
- Living Benefits Rider
Policy riders are options that can be added to a life insurance policy (some at additional cost) to provide additional protection or benefits customized to your ...
- Living Benefits Incorporated
Living Benefits, Inc., manages financial and health benefits for individuals and companies. Our disciplined knowledge and personalized strategies navigate the ...
- Alliance Group | Life Insurance with Living Benefits |
Alliance Group Offers Term Insurance That Includes Chronic, Critical and Terminal Illness Benefits Built In.