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Living benefits

Topic sh95002431 · HG8819 · id.loc.gov

Scope Notes

Here are entered works on provisions in life insurance policies that allow for the prepayment of death benefits to cover the cost of long-term care of the terminally ill. Works on a type of contract by which a cash payment is made to a terminally ill person in exchange for the death benefits of that person's life insurance are entered under [Viatical settlements.]

Used for

  • Accelerated death benefits
  • Life support benefits
  • Living benefit options
  • Pay downs (Life insurance)