Terminal Illness

Terminal Illness: The terminal illness rider allows people who have a terminal disease to claim money from their death benefit. 

In order to borrow the money, the policyholder must have a qualifying illness that is validated by a doctor. 

Terminal Illnesses are illnesses or physical conditions that are certified by a physician to be reasonably expected to result in the insured's death within 24 months from the date of certification. Some States only required 12 months or less.

Examples of qualifying conditions include cancer, heart attack, stroke, organ transplants and paralysis. The policyholder must also meet certain requirements around life expectancy.