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Accelerated benefits provision will pay a portion of death benefit prior to the insured's death due to serious illness
Accelerated benefits, often known as "living benefits," are the proceeds of a life insurance policy paid to the policyholder before death. Accelerated Benefits may be included in the policies themselves, although they are more frequently introduced as riders or attachments to new or existing policies.
The Accelerated Death Benefit (ADB) is a feature in most life insurance plans that allows a person to receive a portion of their life insurance money while still alive. ADB is an industry-standard that is provided by the majority of life insurance companies. Accelerated benefits are less expensive than non-accelerated benefits.
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