In some life insurance policies, benefits available before death, in such events as long-term, catastrophic or terminal illness. This benefit first became available when companies offering viatical settlements purchased the life insurance policies of terminally ill individuals from the insurance companies which issued the policies. After extracting a portion of the value of the policy for costs and profits, these companies offered the remainder of the death benefit to terminally ill policy holders. Insurance companies have different rules about how much money can be extracted and how close to death the holder must be to receive benefits early. The remainder of the value of the policy, minus interest charges, is awarded to the beneficiaries upon the death of the holder. also called living benefits.
Related information about accelerated benefits:
- www.accben.com - Health Insurance Broker
Accelerated Benefits, your health insurance source. ... Accelerated Benefits was founded in 1986 by Thomas P. Wagoner as a Columbus-based benefits broker ...
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Accelerated benefits are normally reserved for those that suffer from a terminal illness, have a long term high-cost illness, require permanent nursing home ...
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Definition of accelerated benefits: In some life insurance policies, benefits available before death, in such events as long-term, catastrophic or terminal illness.
- ALDOI - Questions and Answers on Accelerated Benefits
A: Accelerated benefits, also known as "living benefits," are life insurance policy proceeds paid to the policyholder before he or she dies. The benefits may be ...
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Definition of accelerated benefits: Provision in some life insurance policies that allows the policy holder to receive (in part or in full) the face amount of the policy ...
- Social Security Online - Accelerated Benefits Demonstration ...
Atlanta, GA. Austin-San Marcos, TX. Baltimore, MD. Birmingham, AL. Boston, MA- NH. Buffalo-Niagara Falls, NY. Charlotte-Gastonia-Rock Hill, NC-SC. Chicago ...
- Accelerated Benefits Option (U.S. Department of Veterans Affairs)
Nov 30, 2010 ... The Accelerated Benefit Option gives terminally-ill policyholders under the SGLI and VGLI programs access to the death benefits of their ...