Most people think life insurance only pays when you die. Living benefits change that — giving you access to your own death benefit if you face a terminal, critical, or chronic illness diagnosis.
Not all living benefit riders are the same. Here's what each one covers and when it pays out.
Access up to $250,000 of your death benefit early to cover end-of-life expenses, pay off the mortgage, or provide for your family while you're still here.
A cash payment triggered by a diagnosis — not a doctor's bill. Use it for treatment, income replacement, travel for care, or anything your family needs most.
If a permanent disability prevents daily self-care, this rider bridges the gap between your savings and your long-term care costs. Available through age 70.
A standard life insurance policy has one job: pay your beneficiaries when you die. A policy with living benefits has two jobs — protect your family after you're gone, and protect you while you're fighting to stay.
You get diagnosed with a qualifying condition
You submit a living benefit claim with medical documentation
The carrier reviews and approves the acceleration request
You receive a lump sum or structured payout from your own death benefit
Most people don't realize their life insurance can help them while they're still alive. If you're diagnosed with cancer and need to stop working for 6 months, living benefits mean you don't have to drain your savings account.
A critical illness benefit pays out upon diagnosis of any of the following qualifying events. You don't have to wait for a hospital bill — the money is yours to use however your family needs it.
Tower Hill offers living benefits through A++ (Superior)-rated term life coverage — flexible amounts, flexible terms, with optional return of premium.
Living benefits (also called accelerated death benefits) allow you to access a portion of your death benefit while you are still alive if you are diagnosed with a qualifying terminal, chronic, or critical illness. Instead of waiting for a claim after death, you can use the funds for medical bills, living expenses, or anything else you need.
It depends on the carrier and policy. Many modern term life policies include a terminal illness accelerated death benefit at no additional cost. Critical illness and chronic illness riders typically require adding a rider, sometimes at a small additional premium. Tower Hill reviews this with every applicant so you know exactly what you have.
Qualifying conditions vary by policy but commonly include: terminal illness (life expectancy of 12–24 months), heart attack, stroke, cancer diagnosis, organ failure, ALS, and permanent cognitive impairment. Chronic illness riders may also cover inability to perform 2 or more Activities of Daily Living (ADLs).
Yes. Any amount you accelerate from your death benefit while living will reduce the amount paid to your beneficiaries upon your death. If you accelerate $50,000 from a $250,000 policy, your beneficiaries would receive $200,000. This is why it is important to understand the rider terms before you apply.
Yes. Tower Hill offers no-exam term life policies that include accelerated death benefit riders. Most applicants receive a coverage decision in minutes through our online application, with no blood draw or in-person exam required.
Get a quote that includes living benefit riders. Most Texas applicants qualify without a medical exam — your rate is ready in under 60 seconds.