ACCELERATED DEATH BENEFITS
December 6th, 2007 by Insurance Quote Pros
| ACCELERATED DEATH BENEFITS |
| A life insurance policy option that provides policy proceeds to insured individuals over their lifetimes, in the event of a terminal illness. This is in lieu of a traditional policy that pays beneficiaries after the insured’s death. Such benefits kick in if the insured becomes terminally ill, needs extreme medical intervention, or must reside in a nursing home. The payments made while the insured is living are deducted from any death benefits paid to beneficiaries.
Information provided by Insurance Information Institute |
Category: Glossary | No Comments »
