What are the living benefits?

With a living benefit rider, clients are able to access a portion of their death benefit early if they become stricken with serious illness, such as a qualifying chronic, critical, or terminal illness. 

We offer Transamerica Financial Foundation IUL with optional chronic and critical illness accelerated death benefit riders as a possible option to address this growing need in the marketplace. 

Many worry about getting sick and how that would affect their family’s finances, but they don’t think there’s anything they can do to prepare for it.

Benefits provided through the critical, chronic, and terminal illness accelerated death benefit riders are subject to certain limitations and exclusions. Amounts payable under the riders vary based in part on the nature and severity of the Insured’s health condition and the Insured’s remaining life expectancy at the time of the acceleration as determined by the company. The actual benefit paid to the policy owner will be less than the amount that is accelerated because the amount is discounted to reflect early payment of the policy’s death benefit. Administrative fees per request apply. 

Riders should not be the sole basis to purchase any life insurance policy. Benefits paid under accelerated death benefit riders, including the long term care rider, will reduce the life insurance policy’s death benefit and policy value. Consideration should be given to whether life insurance needs would still be met if rider benefits are paid out in full.