What is Accelerated Death Benefit? | LIFE-HEALTH Exam Prep

An accelerated death benefit is a life insurance policy provision that allows terminally ill policyholders to receive a portion of their death benefit while still living, typically when diagnosed with a terminal illness with 12-24 months to live. 📚 Learn more about Accelerated Death Benefit and other key terms for your LIFE-HEALTH exam at Open Exam Prep. 🎯 This term appears on: LIFE-HEALTH 🔗 Full glossary: https://www.open-exam-prep.com/glossary 🔗 Accelerated Death Benefit definition: https://www.open-exam-prep.com/glossary/accelerated-death-benefit 💡 Exam Tip: ADB = living benefit for terminal illness. Usually 50-80% of death benefit. Tax-free if terminally ill. Reduces death benefit! --- #insurance #examprep #financeexam #life-health