Living Benefits
Some life policies include benefits that may be available during a qualifying illness. Mariam helps you read past the label and understand the conditions, costs and effect on the people you want to protect.
Talk it through with MariamStart with the actual rider
Living benefits is a broad phrase. An accelerated death benefit may let an eligible insured receive part of the death benefit early. Availability and qualifying conditions depend on the specific policy and rider.
A diagnosis alone may not qualify
Terminal, chronic and critical illness provisions can use different definitions, evidence requirements and waiting periods. Do not assume a rider covers every illness or that its payment equals the amount you request.
Understand what remains for your family
Using an accelerated benefit generally reduces the death benefit. Fees or discounts may apply. Ask for a written explanation of the amount payable now and the remaining policy values before electing a benefit.
Keep the rest of your protection in view
These riders do not replace health insurance, disability income coverage or a dedicated long-term care plan. Payments can have tax or public-benefit consequences. Seek appropriate professional guidance before electing benefits.
Your questions, answered.
Does every life insurance policy include living benefits?
No. Check the policy and each attached rider. Availability, cost and qualifying conditions can vary by insurer, product and state.
Are cash value loans the same as accelerated benefits?
No. They are different ways of accessing policy value with different conditions and consequences. Ask which feature is being discussed.
Will my family still receive the original death benefit?
Usually an accelerated payment reduces the amount remaining. The exact calculation, including any fees or discounts, depends on the contract.
Can I rely on a website example to know my benefit?
No. The rider and insurer’s eligibility review determine the actual benefit. Bring your policy documents so the conversation can focus on your coverage.
Your next chapter starts with a conversation.
Tell Mariam what matters to you. You don't need to know the name of a policy to begin.