American National’s Living Benefits are Accelerated Benefit Riders (ABRs) which provide the potential to receive a partial or full accelerated life insurance benefit if the insured experiences a qualifying medical condition.
Partial Acceleration is paid in lieu of a portion of the policy’s death benefit. Multiple partial benefits are available if a partial benefit is taken. For example if 25% of the death benefit is accelerated, 75% of the death benefit would remain and could be accessed later, if needed.
Full Acceleration is paid in lieu of the policy’s death benefit. In the case of a full acceleration, the policy will be terminated after acceleration is paid.
The Accelerated Benefit Riders may provide funds when they are needed to help at a critical time and help protect the money your client has saved for retirement and other life needs.
The Accelerated Benefit Riders Cover Three Types of Illnesses
- Terminal Illness – provides for the payment of an accelerated benefit if an eligible insured has an illness or chronic condition that is expected to result in Death Within 24 Months.
- Critical Illness – provides for the payment of an accelerated benefit if an eligible insured experiences a critical illness. Covered critical illness includes 16 Different Illnesses (13 in California). Not available in New York.
- Chronic Illness – provides for the payment of an accelerated benefit if an eligible insured is unable to perform two out of six activities of daily living (2 of 6 ADLs) or experiences severe cognitive impairment.