What it may cover
- Early access to a portion of the death benefit for a qualifying illness
- Coverage for critical illness diagnoses like cancer, heart attack, or stroke
- Chronic illness benefits for long-term care needs
- Terminal illness acceleration of benefits
- Access to funds for in-home care or assisted living costs
Who it's for
- Anyone buying a new life insurance policy who wants added flexibility
- Those concerned about the cost of a serious illness or long-term care
- Policyholders wanting protection beyond death benefit alone
- Caregivers planning ahead for aging parents or their own future care needs
Why it matters
A serious diagnosis often comes with major medical and care costs while you're still alive. Living benefits give you a way to use your policy's value when you may need it most, whether that means covering treatment not fully paid by health insurance or replacing income during an extended recovery.
Common coverage options
Critical illness rider
Accelerates a benefit upon diagnosis of a covered critical illness.
Chronic illness rider
Provides benefits if you're unable to perform daily living activities long-term.
Terminal illness rider
Provides accelerated access to benefits upon a qualifying terminal diagnosis, often with a shorter life expectancy requirement.
What affects the price
- 01Base life insurance policy type and amount
- 02Riders selected
- 03Age and health at the time of application
- 04Whether the rider is built in or added at an extra cost
Questions to ask before buying
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Frequently asked questions
Coverage details depend on the carrier, selected policy, applicable state laws, underwriting criteria, and specific exclusions. This content is for informational purposes only and does not constitute legal or financial advice.
