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Get to Know Living Needs BenefitSM Rider

An accelerated death benefit rider that gives policies the ability to provide living benefits for terminal illnesses and other scenarios.

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Living Needs Benefit Rider At-A-Glance

The Living Needs Benefit rider is an accelerated death benefit rider that advances a portion of the policy’s death benefit in the event of a terminal illness, confinement to a nursing home, or an organ transplant.

It is available at no additional premium* on most of our single-life permanent and level-term life insurance policies. This rider is not available in Washington state. There are special considerations for the following states: California, Connecticut, Florida, Kansas, Kentucky, Massachusetts, Michigan, Minnesota, New York, Ohio, Oregon, and Washington, D.C. For details, please see the Living Needs Benefit Rider Highlighter.

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Living Needs Benefit Rider Works Well For:

Living Needs Benefit Rider Is Available On:

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Footnote

* There is no charge for this rider but, when a claim is paid under this rider, the death benefit is reduced for early payment, and a $150 processing fee is deducted. If more than one policy is used for the claim, each policy will have a processing fee of up to $150. (For the exception in Florida, see the State Variations.)

 

Life insurance is issued by The Prudential Insurance Company of America, Pruco Life Insurance Company (except in NY and/or NJ), and Pruco Life Insurance Company of New Jersey (in NY and/or NJ). All are Prudential Financial companies located in Newark, NJ.

The Living Needs Benefit℠ is an accelerated death benefit and is not a health, nursing home, or long-term care insurance benefit and is not designed to eliminate the need for insurance of these types. There is no charge for this rider but, when a claim is paid under this rider, the death benefit is reduced for early payment, and a $150 processing fee ($100 in Florida) is deducted. If more than one policy is used for the claim, each policy will have a processing fee of up to $150 deducted ($100 in Florida). Portions of the Living Needs Benefit℠ payment may be taxable, and receiving an accelerated death benefit may affect eligibility for public assistance programs. The federal income tax treatment of payments made under this rider depends upon whether the insured is considered “terminally ill” or “chronically ill” and, if the policy is business related, whether the insured is receiving the benefits. We suggest that clients seek assistance from a personal tax advisor regarding the implications of receiving Living Needs Benefit℠ payments. This rider is not available in Minnesota to new purchasers over age 65 until the policy has been in force for one year, and the nursing home option is not available in California, Connecticut, Florida, Massachusetts, New York, or the District of Columbia. This rider is not available in Washington state. In Oregon, term policies must include the waiver of premium benefit to be eligible for this rider.

Guarantees are based on the claims-paying ability of the issuing insurance company.  
 
Created Exclusively for Financial Professionals. Not for Use with Consumers.

For Compliance Use Only: 1004591-00002-00 Ed. 5/2019

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Advisors - Life Insurance

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