Living Benefits Of Life Insurance
Updated: 15 November 2024
What Does Living Benefits Of Life Insurance Mean?
Living benefits of life insurance are the benefits a policyholder can access while they are still alive. These benefits often represent a portion of the policy’s actual cash value but can sometimes equal its entire value.
Living benefits are also referred to as accelerated benefits.
Insuranceopedia Explains Living Benefits Of Life Insurance
Living benefits can be invaluable if the policyholder faces a catastrophic illness and needs costly treatment or care. However, if the policyholder accesses funds from their life insurance during their lifetime, the death benefit paid to the beneficiary will be reduced.
Synonyms
Accelerated Benefits
