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Life Plus Accelerated Death Benefit Rider®

Life insurance is designed to give your loved ones a sense of security in their greatest time of need. But what if you could use the benefits of life insurance while you're still alive?
The Life Plus Accelerated Death Benefit Rider1, available on all life insurance policies and not sold separately, gives you the flexibility to access part of your policy's death benefit while you're still living. This money can then be used to help pay medical bills, mortgage and home maintenance costs, or even the trip of a lifetime. We recommend that you contact your tax advisor when making decisions about electing to receive benefits from any accelerated benefit product, as the owner may incur a tax obligation. 

This product has specific eligibility requirements.

0-792 Restricted by the minimums/maximums required by the policy to which it is attached.

Key Features of Life Plus Accelerated Death Benefit Rider

Available on all life insurance policies at no additional premium cost3
Benefits received tax-free in many instances
Allows an advance for a specified medical condition, terminal illness or a chronic illness (inability to perform two out of six activities of daily living4)

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Life Plus Accelerated Death Benefit Rider®

The Life Plus Accelerated Death Benefit Rider provides an advance of a portion of a death benefit if you are eligible as a result of chronic illness, terminal illness and specified medical conditions.

Learn More About Life Plus Accelerated Death Benefit Rider

1 Product provisions, availability, definitions and benefits may vary by state.
2 Subject to base product's specified minimum and maximum ages.
3 Additional charges may apply. Certain medical histories may prevent qualification for the Life Plus Accelerated Death Benefit Rider. 
4 The six Activities of Daily Living are routine daily activities generally considered necessary for a self-sustaining person to remain independent: eating, bathing, continence, dressing, toileting, and transferring. Some states define Chronic Illness as Permanent Confinement to a Nursing Home. Please contact your financial professional for details on your state. Advance will reduce the death benefit and interest will be charged. The advance may be increased to keep the policy active. In most states there is a two-year waiting period for all chronic illness claims so that no benefit is paid prior to the second policy anniversary.

Living benefits are accessed through an advance of the policy’s death benefit, provided the insured meets eligibility requirements under the applicable rider. An advance is treated as a lien against the policy and will reduce the Death Benefit payable if not repaid. The advance will accrue interest each year. The lien may be increased if necessary to keep your policy in effect. We may charge a fee of up to $250.00 for an advance payment. The accelerated death benefit will terminate with the policy. 

Life insurance proceeds paid in the form of an accelerated death benefit when the insured has become chronically or terminally ill, and is otherwise eligible for benefits, are intended to receive favorable tax treatment under Section 101(g) of the Internal Revenue Code (26 U.S.C. Sec. 101(g)). There may be tax consequences in some situations in accepting an accelerated benefit payment amount. Consult your tax advisor before taking an advance.

This is a life insurance benefit that also gives you the option to accelerate some or all of the death benefit in the event that you meet the criteria for a qualifying event described in the policy. This policy does not provide long-term care insurance subject to California long-term care insurance law. This policy is not a California Partnership for Long-Term Care program policy. This policy is not a Medicare Supplement policy.

Receipt of Accelerated Benefit payments may adversely affect the recipient’s eligibility for Medicaid or other government benefits or entitlements.  They may also be considered taxable by the Internal Revenue Service. You should contact your personal tax advisor for assistance.

Product features differ between long-term care insurance and life insurance accelerated death benefit riders. Accelerated death benefit riders pay an unrestricted advance of a portion of the life insurance death benefit when the insured experiences terminal or chronic illness as defined in the rider. You do not have to show incurred care expenses associated with an accelerated death benefit. The maximum benefit payable is based on the policy’s cash value and face amount. Any advance paid will reduce the death benefit of the policy. Long-term care policies or riders, on the other hand, pay benefits based on expenses incurred by the policyholder for long-term care. The total benefits available for long-term care insurance are selected by the policy holder at issue. Long-term care insurance is a stand-alone insurance policy or a rider designed to pay for the cost of long-term care services. Long-term care insurance may include coverage for such qualifying events as institutional care, care in a nursing home or skilled nursing facility, home care coverage, hospice care, respite care, or community care. An accelerated death benefit is not to be sold as or to replace long-term care insurance, nursing home insurance, or home care insurance. 

Life Plus Accelerated Death Benefit Rider is issued by Columbus Life Insurance Company, a member of Western & Southern Financial Group, Inc.  At Western & Southern Financial Group, Life Plus Accelerated Death Benefit Rider is offered through Western & Southern Life.

Accelerated Death Benefit Rider series CLR-202 1409 and CLR-201 1208 issued by Columbus Life Insurance Company.

Product and rider provisions, availability, definitions, and benefits may vary by state. 

Life insurance policies contain certain exclusions, limitations, reductions of benefits and terms for keeping them in force. Please contact a financial representative for complete details.

Payment of the benefits of Columbus Life Insurance Company products is backed by the full financial strength of Columbus Life Insurance Company, Cincinnati, Ohio. Guarantees are based on the claims-paying ability of the insurer.