Sentences with phrase «advances against the death benefit»

Depending on the contract, the carriers would offer the consumer a Cash Surrender Value in return for policy surrender, or in some extreme health situations, a modest advance against the death benefit.

ACCELERATED DEATH BENEFITS A benefit that can be attached to a life insurance policy that enables the policy holder to receive cash advances against the death benefit in the case of being diagnosed with a terminal illness.

Not exact matches

An accelerated death benefit rider, also known as the living benefit option, allows a policyholder to receive a cash advance against a policy's death benefit if he / she is diagnosed with an incapacitating health condition, the onset of a terminal illness, or the need for long - term or hospice care.

Something known as an Accelerated Death Benefit can be used against the face value of the policy for more immediate needs like an advance on the policy due to a terminal illness diagnosis or those costs associated with long - term care.