Life Insurance Living Benefits
Does life insurance cover terminal illness?
Most life insurance policies include terminal illness riders or living benefits that allow you to access a portion of the death benefit if you are diagnosed with a terminal illness with a life expectancy of 12-24 months.
Key Points
- Terminal illness rider: access death benefit for terminal illness
- Life expectancy: typically 12-24 months
- Accelerated death benefit: reduces the death benefit paid at death
- Most policies include terminal illness riders at no additional cost
- An independent agent can help you find life insurance with terminal illness riders