EABR: Using Life Insurance to Prepare for Chronic Illness

This article documents the new types of riders being created as part of life insurance policies, that allow the policy to be used to help pay for the healthcare needs of the insured. These new riders will provide access to part of the death benefit of a policy while the insured is alive, to pay for expenses. The claim trigger, in this particular carrier’s version, is the inability of the insured to do 2 out of 6 activities of daily living permanently.

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