Additional Death Benefit

Additional Death Benefit

In some life insurance policies, an extra benefit the beneficiaries of the policy receive upon the death of the policyholder, provided one's death occurs under certain, defined circumstances. For example, a policy may pay an additional death benefit if the policyholder dies before his/her retirement. The amount of the additional death benefit and the circumstances under which it is paid are defined in the policy.
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Essentially, a paid-up addition is an additional death benefit (also with cash value) that is purchased in conjunction with a whole life policy (either with dividends or through additional premium payments).
Benefits include: A $500,00 accidental death benefit; up to $250,000 in excess medical coverage; up to $50,000 benefit for mental health counseling; disability income coverage; plus an additional death benefit for the donor's travel companion.
Available term riders provide an additional death benefit during the first four policy years, while a policy split option rider can be used in the event of divorce or tax law changes.
Also found in many last survivor policies is an estate protection rider that pays an additional death benefit if both insureds die within four years of purchasing the policy.
For example, the Select Estate Protection rider - available at no additional cost and automatically added to policies where the insureds meet specified age, health and specified amount criteria - is a term rider that provides an additional death benefit to the beneficiary for the first four policy years.
This rider pays an additional death benefit if the insured dies as a result of an accident before age 70--in effect, doubling the amount of coverage.
5 million additional death benefit to retire the policy loan.
The beneficiary receives an additional death benefit equal to 40% of the earnings accumulated up to age 69.
says the company now offers on its policies a charitable giving benefit rider that will pay a 1% additional death benefit to a named charity.
The DOT rider helps consumers get additional death benefit protection.
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