If your firm’s Basic Life or Supplemental Life insurance policy included an “Accelerated Benefit” (also known as a “Living Benefit”), in general you would be required to have been diagnosed by a medical doctor with a terminal illness (i.e., life expectancy of 12 months or less). In such circumstances, you may receive up to a specified portion of your death benefit while you are still living, which you may use at your discretion, with the remainder of the benefit payable to your beneficiaries upon your death.
