What is a living life or
accelerated benefit provision?
If you are diagnosed as having a Terminal Condition while insured under a group
policy with a living life provision, you may request an accelerated benefit
payment in accordance with the terms of the policy. The accelerated benefit
payment is generally up to 50% of the amount of insurance applicable to you in
accordance with the other terms of the group policy, subject to a specified
maximum. The benefit payment will be made in one lump sum and will reduce or
terminate in accordance with the terms of the policy; then the benefit will be
based on the reduced amount.
The information above summarizes general employee benefit provisions. It is not
intended to specify details of any particular employer's plan, nor is it a guarantee
of benefits. Contact your benefit representative about specific details regarding
your company's employee benefit plan. |