Definitions for "Accelerated Death Benefits"
Keywords:  alive, ill, mut, ineligible, nursing
Benefits available in some life insurance policies prior to death.
Life insurance policies with a special feature that allows payment of the death benefit when the insured person is still alive. Such payment is usually limited to situations in which the policy holder is terminally ill.
a life insurance policy where policy proceeds are paid before to death if the insured is terminally ill. The insured has the option of getting his or her death benefit while still alive, and presumably during a time of need, instead of having the money paid out only after death to a beneficiary or the estate. Principal Mut. Life Ins. Co. v. United States, 26 Cl. Ct. 616 (1992)