Insurance Term
Accelerated Death Benefit
A policy provision that allows the insured to receive a portion of the death benefit early if diagnosed with a terminal illness.
Detailed Explanation
This benefit is designed to help cover medical expenses or improve quality of life during the final months. The amount paid out is deducted from the final death benefit payable to the beneficiary.
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Practice QuestionEasy
Which of the following best describes the concept of Accelerated Death Benefit?
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