In an insurance policy , what is a Living Benefit ?
A Living Benefit in a life insurance policy is a rider in which it provides the insured with an early payment in the event that a terminal illness or injury occurs. The payment is generally a portion of the policy's face amount. A Living Benefit can also be referred to as an "Accelerated Death Benefit".
Need Professional Help?
If you need help with "Insurance" or have other tax questions, we can help you find a local licensed tax preparer for a free, no-obligation consultation.