Sentences with phrase «event of a terminal illness»

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.
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.
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.
Your policy's cash value can also be used while living in the event of a terminal illness, nursing home confinement, or if you need extended care such as home health care or adult day care.
This feature is essential to ensure continual coverage in the event of a terminal illness.
Also, consider adding policy riders that will allow you to access the policy death benefit in the event of a terminal illness or even convert a portion of your term policy into a permanent policy (such as whole life or universal life).
It is a rider added to the insurance policy to protect the insured against financial loss in the event of terminal illness.
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.
This rider will provide an accelerated death benefit amount to you in the event of a terminal illness.
Policy rider: This allows you to customize your policy and add extra coverage in the event of terminal illness, estate protection, long - term care and final expense coverage.
Also known as a «terminal illness rider,» this option will protect you in the event of a terminal illness.
Riders either are included or can be added for a fee such as the disability income rider, long term care riders either providing cash or the ability to take withdrawals prior to death free of taxes, or accelerated death benefit that allows payouts prior to death in the event of a terminal illness.
A life insurance policy that provides proceeds to insured individuals over their lifetime, in the event of a terminal illness.
The Accelerated Benefit Insurance Rider helps to cover medical costs or nursing home care by allowing you to use a portion of the death benefit in the event of a terminal illness diagnosis or confinement to a nursing home facility.
We normally recommend doing this only in the event of a terminal illness.
Proceeds of a life insurance policy that may be paid out before death in the event of terminal illness or need for long term care.
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