Accelerated Benefits are an insurance option where policy holders may access benefits before an insurance policy is due. |
With some life insurance policies for example, if the policy holder is able to show a doctor issued prognosis that death is immanent, they may receive part or all of their policy before it is due in order to meet current liabilities.
Because the monetary costs of diagnosing and treating fatal diseases is often high, accelerated benefits may help family members cope with medical costs before the policy holder dies.
Also known as living benefits.
