Rescue Capital Blog Your Money, Your Way

Word of the Day: Accelerated Death Benefit

An Accelerated Death Benefit is when a life insurance policy holder, who has been diagnosed with catastrophic or terminal illness, receives a cash advance in order to pay for treatments and expenses incurred in order to stay alive. Also known as "living benefits", these individuals typically have less than a year to live. Not all companies have this type of cash benefit and terms vary by policy and insurance company.