With some life insurance policies, this rider enables insureds to receive a specified portion of the policy's death benefit before the policyowner insured's death if certain conditions are met.
A rider attached to a life insurance policy which provides LTC benefits or benefits for the terminally ill. The benefits provided are derived from the available life insurance benefits.
An optional provision of a life insurance policy that offers an insured the option to collect all or a portion of available life insurance benefits upon the occurrence of terminal or other catastrophic illness. See Viatical Settlement Companies.
A rider that allows insureds who are terminally ill or who suffer from certain catastrophic diseases to collect part of their life insurance benefits before they die, primarily to pay for the care they require.
Provision on a life insurance policy that allows the insured to tap into the benefits to cover long term care or expenses associated with a terminal illness.
A rider that allows insureds to add Long Term Care benefits to a life insurance policy.