Terminal Illness
Terminal Illness
The Terminal Illness Rider in life insurance offers critical financial support during challenging times. If diagnosed with a terminal illness and a life expectancy of 24 months or less, policyholders can choose to receive a discounted lump-sum payment from their death benefit. This option requires no waiting period, providing immediate assistance. While there's no annual limit, a lifetime cap exists for benefits from all Terminal Illness Riders. This invaluable addition ensures policyholders can access funds promptly, alleviating financial stress and allowing them to focus on their well-being. This rider is often included at no extra cost, reinforcing its significance in comprehensive life insurance coverage.