Definitions from the Web
Advance Death Benefit
Definition: The advance death benefit is a feature offered by some life insurance policies that allows policyholders to receive a portion of their life insurance benefit before their death, typically to help cover medical expenses or other financial needs.
Examples:
Noun (Insurance)
- She decided to take advantage of her life insurance policy's advance death benefit to cover the costs of her cancer treatments.
- John's family was relieved when they discovered that his life insurance included an advance death benefit, which helped them pay for his funeral expenses.
Verb (Advance)
- The insurance company agreed to advance a portion of the death benefit to the policyholder who was in dire need of financial assistance.
- She needed immediate funds for her medical treatment, so she requested the insurance company to advance her death benefit.
Verb (Death Benefit)
- The policyholder had the option to request an advance on their death benefit if they met specific criteria.
- He decided to discuss the possibility of advancing his death benefit with the insurance agent to cover his mounting medical bills.
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