Glossary
Accelerated Death Benefit
This feature allows a "terminally ill" individual to submit their policy to the issuing insurance company for a portion of the death benefit (or coverage amount) up front. This is often a rider. It is usually paid in the form of monthly income or a lump sum and the proceeds are generally tax free. The amount will be deducted from the death benefit or face amount (coverage). Please consult an advisor.
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