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On top of these great enhancements, Advantage Plus continues to automatically include up to three additional riders for no additional premium; the Accelerated Death Benefit Rider (also known as a living benefit), the Family Health Benefit Rider and a Common Carrier Accidental Death Rider.
We have already seen the accelerated death benefit rider that offers access to a policy's death benefit when the insured is terminally ill.
Millions of Americans, therefore, are potential candidates for the type of protection provided by a term policy coupled with a well-structured accelerated death benefit rider. However, such protection can be especially attractive for middle-market consumers who have a real life insurance need and also may find themselves with limited resources in the event of a qualifying critical, chronic, or terminal illness or condition.
Accelerated death benefit rider: Pays a portion of the death benefit to the insured upon diagnosis of a terminal illness that will significantly shorten life expectancy.
* Barebones policies with an accelerated death benefit rider that allows the policyholder to access cash value to cover the cost of long term care;
* Supplemental long term care coverage if the policy has an accelerated death benefit rider.
It also includes an Accelerated Death Benefit Rider, which provides the policyowner an advance on death benefits, should he or she become terminally ill.
The accelerated death benefit rider started innocently enough more than 15 years ago covering terminal illness.
Accelerated Death Benefit Rider: A rider that lets the policyholder collect a portion of the policy's death benefit if he or she becomes terminally ill with a short life expectancy, such as one year.
An Accelerated Death Benefit Rider (ADBR) accelerates the death benefit in the event of a long-term care need.
* Accelerated death benefit rider: The accelerated death benefit rider has evolved over the years and is now offered on most life insurance contracts.
There are also "accelerated death benefit riders" that let policyholders use their life insurance death benefit for long-term care services.
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