Living benefits: life insurance you can use while you're alive

Most people think of life insurance as money for the family after a death. But a serious illness can be just as hard on a family's finances, sometimes harder: income stops while medical bills and household costs keep coming.

What living benefits are

Many life insurance policies can include riders that let you access part of your death benefit early if you're diagnosed with a qualifying illness. They're often grouped into three types.

Terminal illness

Access to part of the benefit if you're diagnosed with a terminal condition with a limited life expectancy.

Critical illness

Access after a qualifying event such as a heart attack, stroke, or cancer diagnosis.

Chronic illness

Access if you can no longer perform basic daily activities on your own, such as bathing or dressing.

Why it matters

The money can replace lost income, cover treatment or care, or keep the mortgage paid while you recover. Whatever you use reduces the benefit your family receives later.

Riders, qualifying conditions, costs, and availability vary by carrier, policy, and state. Review the policy details before you buy.