Start with the contract
“Living benefits” is an umbrella marketing phrase. Eligibility depends on the specific rider, qualifying event, certification requirements, benefit calculation, and policy status.
Understand the tradeoff
Accelerated benefits typically reduce the remaining death benefit and may involve administrative charges or actuarial discounts. Tax treatment can depend on the facts.
Review what you already have
Employer benefits, disability coverage, health insurance, long-term-care planning, emergency reserves, and personal life insurance should be reviewed together—not in isolation.
For educational purposes only. This material is not individualized tax, legal, accounting, or investment advice. Insurance products, riders, values, costs, and availability vary by carrier, policy, state, and individual eligibility. Policy loans and withdrawals reduce available cash value and death benefits and may create tax consequences if a policy lapses or is surrendered.