Accelerated Benefits

By: Phil Wasserman 11/4/2014

Today it is common for annuities to allow for accelerated benefits to pay for the following:

Home Health Care Rider

o If you require Home Health Care Services by a

licensed Home Health Care provider as a result of

being impaired in performing two out of six activities

of daily living.

Nursing Home Benefit Rider

o If you are confined to a licensed nursing home for

more than 60 days, and your confinement begins at least one year after the annuity’s effective date.

Terminal Illness Benefit Rider

o If a licensed physician certifies that you have been

diagnosed with an illness or condition that causes your life expectancy to be less than one year.

These powerful benefits are usually included at no cost, although not all annuities have them.