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With our optional Accelerated Death Benefit for Chronic Illness Plus Rider, up to 100% of the policy’s death benefit can be accessed in advance if the insured becomes chronically ill.
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With the chronic illness plus rider, you can access up to 100% of the policy’s death benefit in advance if you become chronically ill. The monthly benefit is the lesser of 2% of the policy death benefit or the IRS per diem limit. (for 2020 the IRS per diem monthly limit is $11,400) Benefits from the chronic illness plus rider can be received at any time after issue, provided a licensed health care practitioner has certified you being unable to perform at least two of the six activities of daily living. Once you begin receiving the monthly benefits from this rider, all policy charges will be waived and no future premiums will be required. If the chronic illness plus rider is never used, your beneficiaries will receive 100% of the death benefit.