Midland National's life insurance offers accelerated death benefits on all current products, which allows your clients to access a portion of the policy's death benefit while they're still living. The funds can be used for unrestricted use such as treatment for an extended illness, home modifications, costs of daily living, home health care, or a dream family vacation. There is no additional premium for these benefits².
These resources can help you to familiarize yourself with the accelerated death benefit endorsement (ADBE) and its value-add features.
Agent Materials
These materials can be downloaded to share in a meeting, send in a follow-up email or visit Supply Warehouse to order copies to keep on hand!
Consumer Materials
What are living benefits?
Quite simply, living benefits are benefits that allow you to access a portion of your policy's death benefit while you are still living, if you are diagnosed with a qualifying illness.
2. There is no additional Monthly Deduction or premium charge for the Accelerated Death Benefit Endorsement. However, the actual payment received in connection with any acceleration will be discounted and is lower than the Death Benefit amount accelerated. In addition, there is an administrative fee required each time an Election is made.
Critical illness is not available on Term in California
Agents offering, marketing, or selling accelerated death benefits for chronic illness in California must be able to describe the differences between benefits provided under an accelerated death benefit for chronic illness and benefits provided under long-term care insurance to clients. You must provide clients with the ADBE Consumer Brochure for California that includes this comparison. Comparison is for solicitation purpose only, not for conversions.
Accelerated Death Benefit Endorsement for Critical, Chronic and Terminal Illness (form series E109/ICC22E109), Accelerated Death Benefit Endorsement for Critical Illness (TR197) Accelerated Death Benefit Endorsement for Chronic and Terminal Illness (form series E110/ICC22E110 or TR20904), and Accelerated Death Benefit Endorsement for Terminal Illness (form series E111/ICC22E111 or TR20804), or state variation including all applicable endorsements and riders, are issued by Midland National Life Insurance Company, West Des Moines, IA. Products, features, riders, endorsement or issue ages may not be available in all jurisdictions. Restrictions or limitations may apply.
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FOR AGNET USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.
