Question

When might a policyowner of a life insurance policy be able to receive accelerated benefits from a payout of the policy?

A. Refinancing of one's estate
B. Diagnosis of a terminal illness
C. Impending foreclosure of a property
D. The amount of the premiums exceeds the payout

Answer 1

The policyowner of a life insurance policy may receive accelerated benefits when diagnosed with a terminal illness.

Step-by-step explanation:

The policyowner of a life insurance policy may be able to receive accelerated benefits from a payout of the policy when they are diagnosed with a terminal illness. In this situation, the policyholder can receive a portion of the death benefit while they are still alive to help cover medical expenses or other needs.