AccuQuote Explains Accelerated Death Benefit for Costly Medical Expenses

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Life insurance rider enables terminally ill policyholders to collect a portion of the death benefit while living to offset the cost of large medical expenses.

Call 888-314-4455 or visit www.accuquote.com for a free life insurance quote.
“You can use the money from an accelerated death benefit to fund items on your bucket list, spend more time with friends and family, pay for living expenses or cover costly medical bills,” says Byron Udell, founder and CEO of AccuQuote.

Individuals who develop terminal illnesses often accrue very large medical expenses. Fortunately, for those with life insurance, many life insurance companies have made it possible for policyholders to collect a portion of the death benefit while the insureds are still living. AccuQuote, an independent leader in providing term life insurance quotes to people across the United States, explains the benefits of adding the accelerated death benefit rider to an existing life insurance policy.

A life insurance rider is simply an addition, or endorsement, to a policy that expands or limits the terms and conditions of the policy. The accelerated death benefit rider gives the policyholder the option to receive typically between 25 and 75 percent of the policy’s overall death benefit amount. Exercising the accelerated death benefit rider is usually limited to those with terminal illnesses with prognoses of death within one year. Accelerated payments made to the policyholder can typically be made in monthly installments or in a lump sum.

“You can use the money from an accelerated death benefit to fund items on your bucket list, spend more time with friends and family, pay for living expenses or cover costly medical bills,” says Byron Udell, founder and CEO of AccuQuote.

The accelerated death benefit is often built into a life insurance policy at no additional cost. However, some life insurance carriers will charge interest on the advance and deduct that from the insured’s ultimate death benefit when they die. Upon the insured’s death, the remaining balance goes to the beneficiary.

“Of course it’s never fun to think about it, but we’re all going to die eventually. In many cases, we get sick first and then die,” says Byron Udell, founder and CEO of AccuQuote. “When that happens, a life insurance policy with an accelerated death benefit is certainly better than a policy without one.”

Individuals seeking more information about the accelerated death benefit rider can contact one of AccuQuote’s licensed life insurance agents at 888-314-4455 or visit AccuQuote.com's learning center.

About AccuQuote
AccuQuote helps consumers find the best values in term life insurance by combining instant online life insurance quotes with the personal service of unbiased life insurance professionals who answer questions, identify important issues and make meaningful recommendations. The company offers consumers an extensive selection of life insurance products, including term life, whole life, universal life, accidental death, long-term care, disability and selected annuities. AccuQuote.com has many handy insurance tools, including a term life insurance calculator to help consumers determine their life insurance needs, a glossary of industry terminology, a collection of articles and press releases that cover many life insurance topics and a blog that provides opportunities for discussion on life insurance and personal finance. For additional information or to get free quotes for low cost life insurance, please call AccuQuote at 888-314-4455.

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Christin Accomando
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