The following are health threats:.  cancer, stroke or disability that can wipe out your life’s savings. There is a Life Policy where 3 riders come free, added at no cost with access up to $1.5M when health threats occur (directly to your pocket). Contact Connie Dello Buono 408-854-1883 CA Life Lic 0G60621 at 1708 Hallmark Lane, San Jose, CA 95124 for more info.

The Accelerated Benefit Riders 1, 2 and 3 are no cost riders that allow accelerated payment of up to 100% of the policy death benefit. The actual payment amount under any of the riders is discounted. The benefit payment is the actuarially discounted value of the death benefit being accelerated less a pro rata portion of any policy debt.

All qualifying events may not be available in all states. Be sure to seek legal and tax counsel before exercising the benefits available under this rider.

ABR 1- Terminal Illness, gives the policyholder the option of receiving the death benefit early if the insured is terminally ill. Terminal illness is expected to result in death within two years (one year in PA, CT, NY or VT). All or part of the death benefit may be requested early (lump sum).

ABR 2 – Chronic Illness, is available when the insured is diagnosed as chronically ill:

  • Unable to perform two of six activities of daily living – bathing, continence, dressing, eating, toileting and transferring without assistance, or
  • With deterioration or loss in intellectual capacity (cognitive impairment). Provides the option of receiving the death benefit in periodic payments after a 90-day waiting period. The maximum monthly amount that can be accelerated is 2% of the death benefit. ABR 2 must be in-force for two years before the benefits are available.

ABR 2 – Continuous Confinement, is available when the insured is diagnosed as continuously confined to an eligible institution, like a nursing home, and is expected to remain there for the rest of their life.

ABR 3 – Critical illness, is available when the insured experiences one of the following qualifying events:

  • Heart attack
  • Stroke
  • Diagnosis of cancer
  • Diagnosis of end stage renal failure
  • Major organ transplant
  • Diagnosis of ALS (Lou Gehrig’s disease)
  • Blindness (both eyes, corrected vision of 20/200 in both eyes)