Living Benefit Rider, also called Accelerated Benefit Rider (ABR), is a no-cost rider to a life insurance policy and is consist of Critical Illness rider, Chronic Illness rider and Terminal Illness rider. The riders allow you to accelerate a portion of your contractual death benefit while you’re still living and guarantee a minimum benefit for qualifying chronic, critical and terminal illnesses or conditions.

Chronic illness rider, similar to a long-term care insurance, is defined as the insured person’s chronic illness, which was first diagnosed by a certified health care practitioner over the past 90 days and has long-term effects on the insured’s illness or physical condition, resulting in the insured:

• Lose at least two activities of daily living* (Activities of Daily Living); or
• The need for care by others to protect the health and safety of the insured is not threatened by severe perceived impairment.

*Daily self-care activities include: bathing, dressing, toileting, action, self-control and eating

Critical illnesses often come sudden and without warning, such as:  • Heart attack   • Major organ transplants   • Strokes   • Invasive cancer   • Blindness   • End stage renal failure   • Paralysis   • Amyotrophic lateral sclerosis (ALS or Gras’ disease)   • Blood Cancers: Leukemia, Lymphoma, Multiple, Myeloma and Myelodysplastic Syndromes   • Coma   • Severe burn.

Different insurance companies will include different qualified illnesses. Please feel free to consult with us for details.

Terminal illness are defined as those in which a physician reasonably expects will result in the insured person’s death within 24 months. In some insurance product it is 12 months. Please feel free to consult with us for details.