The life insurance policies have a provision that enables an insured to collect a significant portion of the death benefit when still alive especially when the insured is going through a terminally sickness. This is what is termed as Accelerated death benefit in life insurance.
So an accelerated death benefit which is otherwise known as ADB happens in life insurance policy.or attached to a life insurance policy. This provision allows the policyholder to get cash advances when requested against the death benefit when the insured is being diagnosed with a terminal or deadly illness.
The money or the benefits that would be received can be used at the discretion of the insured at this point to pay for medical expenses or even to do specific things with the family and friends while the insured still can.
Well, accelerated death benefit funds Is no free funds to an insured as insurance is no charitable organisation. so the amount taken out by the insured earlier on will be subtracted from the death benefit payment when the life insurance beneficiary of the insured will need the death benef of the insured and this money will be paid along with interest.
What do you think of accelerated death benefit?
So an accelerated death benefit which is otherwise known as ADB happens in life insurance policy.or attached to a life insurance policy. This provision allows the policyholder to get cash advances when requested against the death benefit when the insured is being diagnosed with a terminal or deadly illness.
The money or the benefits that would be received can be used at the discretion of the insured at this point to pay for medical expenses or even to do specific things with the family and friends while the insured still can.
Well, accelerated death benefit funds Is no free funds to an insured as insurance is no charitable organisation. so the amount taken out by the insured earlier on will be subtracted from the death benefit payment when the life insurance beneficiary of the insured will need the death benef of the insured and this money will be paid along with interest.
What do you think of accelerated death benefit?
