Final answer:
The correct answer to what an Accelerated Death Benefit provision in a life insurance policy is known as is 'D. Living Benefit'. This allows policyholders access to funds under specific conditions, and is available in policies with a cash value accumulation.
Step-by-step explanation:
The Accelerated Death Benefit provision in a life insurance policy is best known as a Living Benefit. This feature allows the policyholder to receive a portion of the death benefit while they are still alive, under certain circumstances such as a terminal or chronic illness. The correct answer to the provided question is 'D. Living Benefit'.
Cash-value life insurance policies, also known as whole life insurance policies, not only provide a death benefit but also accumulate cash value over time.
This accumulated cash can act as a financial account which the policyholder can use for various purposes, including taking out loans or making withdrawals.