01
Availability
Availability depends on the insurer, policy, state, approval, and applicable riders. A feature offered with one policy may not exist with another.
Living Benefits
The label is simple. The contract details are not.
“Living Benefits” is a general label for certain provisions or riders that may allow access to part of a death benefit while the insured person is living. Not every policy includes the same benefits.
Michael Linares · Linares Life
What to review
Read the contract, not only the label.
This page provides a general educational framework. The policy, riders, illustration, and applicable disclosures control.
02
Different definitions
Terminal, chronic, and critical illness may have different definitions, waiting periods, eligibility requirements, and documentation. The contract controls.
03
Effect on the death benefit
Accessing an accelerated benefit may reduce the remaining death benefit and other policy values. Charges, discounts, or other conditions may apply.
04
Questions to ask
What event triggers the benefit? Who determines eligibility? How much may be accelerated? What charges apply? How does it affect the death benefit? Could there be tax consequences?
05
Review the contract
General explanations do not replace the contract. Review the specific rider or provision and any required disclosure before relying on a feature.