1 The ADBR rider is generally automatically included on a life insurance policy at no additional premium subject to underwriting and state availability. The cost of the rider is built into the life insurance premium, though if exercised, the lien created incurs interest unless repaid. The rider allows an advance to be paid against a portion of the death benefit in the form of a lien or loan against the policy provided the insured is diagnosed with a qualifying chronic or terminal illness. Rider terms vary by type of life insurance and state. The type of illness determines the maximum advance amount available. There are no restrictions on how the money from the ADBR can be used after payment. The ADBR is added at no additional premium (although a fee of up to $250 may be charged for an advance payment). If not repaid, will reduce the Death Benefit and affect other policy values. 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.
Easy Choice Term policy series ICC23 2302-328 issued by Western-Southern Life Assurance Company. Accelerated Death Benefit Rider series 1208-301 WSA, Accidental Death Benefit Rider series 9401-3540 WSA, Children Term Life Insurance Rider series 1103-2675 WSA and Waiver of Premium Rider series 1801-301 WSA.
These policies and benefits may not be available in all states, 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.
Life insurance products are not bank products, are not a deposit, are not insured by the FDIC, nor any other federal entity, have no bank guarantee, and may lose value.
