Will the payout from an accelerated death benefit rider be taxable?

Accelerated Death Benefit Riders (ADBRs) are a valuable feature offered by many life insurance policies. They provide policyholders with the option to access a portion of their death benefit in the event of a terminal illness, chronic illness, or critical illness diagnosis. This financial lifeline can help individuals cover medical expenses, long-term care costs, or…

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Will the payout from a rider affect the main life insurance payout?

Life insurance policies provide financial protection for your loved ones in the event of your untimely demise. They offer a lump-sum payment, known as the death benefit, to your beneficiaries upon your death. However, many people are not aware that they can enhance their life insurance coverage by adding riders to their policies. In this…

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