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Main Insurance Terms acceleration life insurance

acceleration life insurance



policy under which a portion of thedeath benefit(generally 25%) becomes payable to the insured for a specified medical condition prior to death. The purpose of the accelerated death benefit is to provide funds necessary to finance medical costs to extend the life of the insured. Upon proof of a specified medical condition, the insurance company will pay 25% of the death benefit. When the insured dies, the remainder of the death benefit is paid to thebeneficiary, just as under a traditional life insurance policy.



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acceleration life insurance