Accelerated Death Benefit Rider

This rider gets activated in case you become terminally ill and you have less than a year to live. This rider comes standard on most policy and free or charge. Check with the insurance carrier before you purchase the policy.

The policy spells out how much of the death benefit is available before death. Usually it’s capped at $250,000 to $500,000. You can use the proceeds for anything, such as paying medical bills or living expenses. Even though the insurer offers the rider free, the company may charge a fee if it is exercised.