A life insurance policy rider that allows the policy owner to receive a portion of the policy's death benefit while still living, providing the insured person is inflicted with a terminal illness and has a limited life expectancy. Also referred to as a living benefits rider.
A rider added to a life insurance policy to protect the insured against financial loss in the event of a terminal illness. An ADB makes living benefits payable to the insured for medical expenses prior to death. Accelerated (or living) benefits paid reduce the death benefit payable to the beneficiary(ies) upon death.
Rider that Allows payment of a portion of the face amount prior to the death of the insured, if the insured is diagnosed with a terminal illness or injury