Living Benefit Rider
Gain peace of mind knowing you can access cash when you need it the most
The Living Benefit Rider is an accelerated death benefit that recognizes life’s uncertainties and the financial stress of an unforeseen illness. It allows you to access a portion or all of the death benefit from your life insurance policy before death if you are diagnosed with a covered terminal, chronic or critical illness. Best of all, it’s automatically included on policies that meet the requirements at no additional cost.
Specifications
Issue Requirements
Issue Ages: 0 to 85
Minimum Face Amount: The minimum face amount in force at the time of the claim must be $25,000 for terminal illness, $50,000 for chronic and critical illness.
Available for
- Ultimate Flex Universal Life Insurance
- 20-Pay Whole Life Insurance
- Whole Life Insurance
- Value Life Insurance
- Single Premium Whole Life Insurance
- 10-, 20-, and 30-Year Term Life Insurance Plans
Qualifying Conditions
Chronic Illness
An insured will be considered chronically ill if they have been certified by a licensed health care practitioner as:
- HHaving a permanent inability to perform without substantial assistance from another person at least two activities of daily living for a period of at least 90 days due to a loss of functional capacity.
- Requiring permanent substantial supervision to protect themselves from threats to health and safety due to severe cognitive impairment.
Critical Illness
- Heart Attack
- Stroke
- Invasive Cancer
- End-Stage Renal Failure
- Major Organ Transplant
- Amyotrophic Lateral Sclerosis (ALS)
- Coronary Artery Bypass Surgery
These conditions qualify because they are expected to result in a drastically limited life span, but don’t necessarily meet the definition of terminal illness.
Terminal Illness
An insured will be considered terminally ill if diagnosed with an illness or condition that can reasonably be expected to result in death within 12 months from the date of the physician’s statement.
Living Benefit Calculator
The Living Benefit Rider amount is calculated using the formula below where the actuarial discount reflects the cost of paying a death benefit before the actual death of the insured.
The Living Benefit Rider will not be less than the proportion of the eligible death benefit that is accelerated times the excess of the cash value over any outstanding contract debt.
Product Information Sheets
To request a personalized product information sheet for the Living Benefit Rider, email our sales support team at sales@trustedfraternallife.org. Please include the product name, brand, headshot and the contact information you would like on the sheet.
Important Advisories
- A licensed health care practitioner includes a physician, registered nurse or a licensed social worker.
- Activities of daily living include bathing, continence, dressing, eating, toileting and transferring.
- Actual benefit is determined at the time of claim.
- Like all life insurance policies and riders, this rider has exclusions, limitations, reduction of benefits, and terms under which the contract may be continued in force or discontinued. For costs and complete details of coverage, contact your representative or call (800) 965-2547.
Accelerated Benefit Rider ICC21 ABR; ICC21 ABR SPN; 2022 ABR and 2022 ABR SPN. Term Life Insurance ICC20 TRM (30); ICC20 TRM (30) SPN; 2020 TRM FL (30) and 2020 TRM FL (30) SPN. Single Premium Whole Life Insurance ICC19 SPWL; ICC19 SPWL SPN; 2021 SPWL FL and 2021 SPWL FL SPN. Whole Life Insurance ICC19 WL 2; ICC19 WL 2 SPN; 2021 WL 2 FL and 2021 WL 2 FL SPN. Value Life Insurance ICC21 WL; ICC21 WL SPN; 2021 WL FL and 2021 WL FL SPN. Universal Life Insurance ICC19 UL FLX; ICC19 UL FLX SPN; 2020 UL FLX FL and 2020 UL FLX FL SPN.
15-0049-05/25