A friend has been diagnosed with terminal stage cancer. Is it possible for his life insurance policy to pay off before he actually dies?
If the policy has the accelerated death benefit rider attached, it will be possible to advance the policy benefits
A friend has been diagnosed with terminal stage cancer. Is it possible for his life insurance policy to pay off before he actually dies?
Rajan Awasthi, Bhopal
Unfortunate to hear about your friend’s health condition; if the policy you mention has the accelerated death benefit rider attached, it will be possible to advance the policy benefits, before the actual death of the policyholder to help the financial situation faced by the policyholder and his family. Please check if any of his life insurance policies have been issued with this rider. If yes, he can claim a part of his death benefit to meet the current medical expenses.