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.