When purchasing life insurance, most customers focus on the benefits granted after the policyholder passes away. What may come as a surprise, however, is that some life insurance policies contain opportunities for benefits to be collected while the policyholder is still alive but diagnosed with a severe illness. What does this mean for the insurance company and what effects does this have on the benefits payments?
In this episode of Money Script Monday, Kevin breaks down how exactly accelerated benefit riders work and the benefits they could have on an individual’s life if they were ever to be needed.
Resources Provided for This Episode
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Advisory Services offered through LifePro Asset Management, LLC. The information presented here is not specific to any individual's personal circumstances. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials.