At United of Omaha and Companion, we offer Accelerated Death Benefits for Terminal Illness and Chronic Illness. These riders give clients an option to access a portion of their death benefit early. This money can provide a little more comfort during a difficult time or can be used to help cover the costs of long-term care.
For the Chronic Illness Rider, the benefit amount is capped each year by the IRS per diem limit. For 2017, this limit has increased from $340 per day to $360 per day (or $131,400 for the year), which means that clients needing to exercise this rider have access to a higher benefit amount (subject to policy limits).
The following materials have been updated with the new benefit amounts:
- Accelerated Death Benefit Riders flyer (including a sample benefit calculation)
- Accelerated Death Benefit Rider FAQ
If you have additional questions on how the Accelerated Death Benefit Riders work, please contact Mutual of Omaha’s Sales Support at 1-800-693-6083 or your Sales Director.
Accelerated Benefit Rider Materials Updated for 2017