ACCELERATED BENEFITS

This is a clause that can be found in some policies of life insurance that gives the policy holder the right to get the benefits from the insurance even before death. Normally, accelerated benefits can be given to those who have terminal illness, have medically incapacitating condition, people that require permanent confinement in nursing homes and those who have a high cost illness. The differences of the policies of some insurance companies are the amount of money you can claim and the closeness to death the case should be in order to get the benefits. Most insurers offer 25%-100% of the total death benefit as part of the accelerated benefit.

This is also known as living benefits.

POPULAR TERMS

POPULAR ARTICLE