For many years, insurance was purchased to provide death benefit protection for surviving family members. However, insurance did not help when an insured was struck down by a debilitating Critical, Chronic, or Terminal illness. Many companies offer you the potential to access part of your life insurance death benefit in the event you suffer a qualifying illness and may not be able to work.

Accelerated Benefits Riders for Critical, Chronic, and Terminal illness may provide you a full acceleration of your life insurance policy or a partial benefit that will allow you to keep the remainder of your policy. Multiple partial benefits are available if a partial benefit is taken.

For example, if 25% of the death benefit is accelerated, 75% of the death benefit would remain and could be accessed later, if needed. The partial or full accelerated death benefit may be paid in a lump sum or applied to an annuity that will provide income for a specified period.