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Definitions from WordNet

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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