Reader question:

I have Clearwater FL term life insurance. Can I get accelerated death benefits?

Craig

Great question, Craig.

First, let me explain accelerated death benefits for all those who don’t know: accelerated death benefits allow you to pull out of the money in your coverage before you die, in the event that something extreme happens, such as if you fall terminally ill or you have to go live in a nursing home on a temporary or permanent basis. Even though it might seem like something related to a cash value plan, though, you can get accelerated death benefits even if you have Clearwater FL term life insurance.

In general, your Clearwater FL term life insurance policy only allows you to grab accelerated death benefits if you have a very short life expectancy. The range tends to be within 12 months of your application for the accelerated death benefits. Normally, the disease has to be something like terminal cancer, AIDS, heart disease, and the like. You may have a policy which had accelerated benefits already a part of them, or your company may have charged you extra for these benefits.

take care,

Fashun