accelerated death benefit

accelerated death benefit definition - business

accelerated death benefit

A rider to a life insurance policy that allows the insured to collect benefits to cover medical expenses during a terminal illness. Accelerated death benefits are offset by a reduction in the death benefit paid to the beneficiary at the time of the insured's death.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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