In Managing Life Events

The Advantages of an Accelerated Death Benefit

Planning for the later years in your life? Consider this: while most people never think they’ll need nursing care, the truth is that no one can ever be certain whether they’ll need to stay in a nursing home as they get older. If you or a loved one do end up needing long-term care, a semi-private room in a nursing home can cost upwards of $80,000 a year! Financing this tremendous cost can put a great burden on yourself and your family. However, there is an option that many have begun pursuing to make it more affordable: adding an accelerated death benefit to their policy.

What is an accelerated death benefit?

Simply put, an accelerated death benefit is a feature of many life insurance policies, that is sometimes included or can be purchased separately as a rider. It gives policyholders the ability to draw a percentage of their total death benefit while they’re still alive, which can be used to fund medical expenses, including long-term care.

Why should I get one with my policy?

If you have a family history of illness, or multiple family members who have needed nursing care later in life, purchasing an accelerated death benefit can help provide financial assistance later in life should you get sick. This helps to ensure that your medical costs don’t put a burden on your loved ones.


How can I get started?

Simply press the button below, fill out the form, and request an application to have a conversation with an insurance expert at Low Cost Life Insurance. We’ll work with you to find out your needs and recommend the best policy and options, including accelerated death benefits. Keep in mind, there may be certain qualifications you must meet in order to withdraw money early from your policy if you choose to purchase an accelerated death benefit!


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