This «living benefit» allows the insured to receive 75 percent of the policy's face amount in advance — up to a maximum dollar amount of $ 750,000 — in the event of a terminal illness diagnosis that will likely result in death within 24 months. (insurancescored.com)
Both the indexed universal life insurance and the term life insurance policies typically include an accelerated death benefit so that a large portion of the death benefit can be paid to the policyholder in the event of a terminal illness. (insurancequotes2day.com)
For example, in the event of a terminal illness, an accelerated death benefit rider on a life insurance policy would provide the insured with a cash benefit while living. (investopedia.com)