ACCELERATED DEATH BENEFIT PROGRAM Clause Samples
The Accelerated Death Benefit Program clause allows a life insurance policyholder to access a portion of their policy’s death benefit while still alive, typically in the event of a terminal illness or severe medical condition. Under this provision, the insured can request early payment of benefits if they meet specific qualifying criteria, such as being diagnosed with a condition that significantly reduces life expectancy. This clause provides financial support to the policyholder during a critical time, helping to cover medical expenses or other urgent needs, and addresses the problem of liquidity for individuals facing serious health challenges.
ACCELERATED DEATH BENEFIT PROGRAM. The Reinsurer shall not be required to participate in any payments of the Company’s Accelerated
ACCELERATED DEATH BENEFIT PROGRAM. The Reinsurer shall not participate in any payments of the Company’s Accelerated Death Benefit. Upon the death of the insured, the Reinsurer will pay its proportionate share of the reinsured net amount at risk, including any amounts previously accelerated, calculated at the date of death.