ACCELERATED DEATH BENEFITS,
What is ACCELERATED DEATH BENEFITS?
A benefit that can be combined with a life insurance policy that allows the policyholder to receive a pre-death benefit if an incurable disease is diagnosed. Many people who opt for the quick benefit of death have less than a year to live and the money goes to treatment and other expenses necessary to survive.
Meaning of ACCELERATED DEATH BENEFITS: Terms that cover all or part of the life benefit of the insured person for life. A prerequisite is proof that the policyholder is critically ill, under 12 months of age, has some life-threatening illness, or is in a health care facility such as a nursing home. ۔ Accelerated benefit payments can disqualify a person for Medicaid or other government benefits. Income can also be taxed.
You can define ACCELERATED DEATH BENEFITS as, In insurance contracts that include a sharp clause in the death benefit, the policyholder pays the death benefit or part of it in the lifetime contract under certain conditions. These conditions include evidence that the policyholder is seriously ill with an expected age of less than 12 months, has some life-threatening illnesses, or is in a health facility such as a nursing home. For life insurance or group certificate law, the amount of expected benefits is limited by law to 25,000 or more or 50% of death benefit. Accelerated benefit payments can disqualify a person for Medicaid or other government benefits. Income can also be taxed.
Life insurance option that provides life insurance results to the policyholder in case of incurable disease. This is not a traditional policy that pays the beneficiary on the death of the insured. This benefit applies when the insured is critically ill, needs intensive medical care, or stays in a nursing home. Payments made during the life of the insured will be deducted from the death benefit to the heirs.
You can define ACCELERATED DEATH BENEFITS as, The benefit of death is available before the death of the insured. They are sometimes called life support and are usually available for chronic or incurable diseases.
Literal Meanings of ACCELERATED DEATH BENEFITS
Meanings of ACCELERATED:
(Especially vehicles) start moving fast.
Sentences of ACCELERATED
The car is coming towards them
Meanings of DEATH:
The act or act of killing or killing at the end of the life of a person or organization.
Sentences of DEATH
Increased mortality from cancerous skin cancer
Synonyms of DEATH
dying, eternal rest, expiration, passing away, passing, passing on, expiry, departure from life, final exit, loss of life, end, demise
Meanings of BENEFITS:
Get performance benefits.
Benefit or benefit comes from something.
State or insurance payments to authorized persons.
A program, such as a concert or game, aimed at raising funds for a particular athlete or charity.
Sentences of BENEFITS
Part-time jobs that come with services that require proof of resources
Dance and profit discounts are available for newcomers this season
Synonyms of BENEFITS
profit, sake, ease, well-being, enjoyment, interest, state benefit, unemployment benefit, make money, social security, sick pay, pension, reap benefits, gain, satisfaction, good, public assistance allowance, social security payments, welfare, reap financial reward, benefit payments, government benefit, comfort, advantage, convenience