What does an "accelerated death benefit" feature allow?

The "accelerated death benefit" feature allows an individual to withdraw a portion of the death benefit from their life insurance policy if they are terminally ill. This provision is designed to provide financial support to policyholders during critical times, allowing them to access a portion of the benefits while they are still alive. This can help cover medical expenses, living costs, or other financial needs that may arise due to the terminal illness.

The key aspect of this feature is that it provides immediate assistance rather than waiting until death occurs. This is particularly beneficial for those who need funds urgently for treatment or other related expenses, and it reflects a shift in how life insurance can be utilized beyond just providing a death benefit to beneficiaries.