Prudential Life Insurance Living Needs Benefit Rider

Prudential Living Needs Benefit Rider – Often known for its wide selection of coverage options, high-risk underwriting, and unique policy features, Prudential Life Insurance is a front runner for life insurance coverage.

Recently we wrote an article discussing term life insurance companies that offer accelerated living benefits with their life insurance coverage. Featured in our article was the Living Needs Benefit rider offered on Prudential Life Insurance policies.

The Living Needs Benefit is a free rider that is offered on all Prudential Life Insurance coverage both term and permanent.  The Living Needs Benefit rider comes with two accelerated death benefit options.

These two options are the nursing home option and the terminal illness option. Both options allow a policyholder the option to accelerate their policy’s death benefit for cash under qualifying conditions.

Prudential Living Needs Benefit Rider is an excellent free feature included on both of their term and permanent life insurance policies.

Instantly compare rates Prudential term and permanent life insurance rates here at Top Quote Life Insurance. 

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Prudential Living Needs Benefit Rider and Long-Term Care Cost

If you have ever had a family member or known someone that has required long-term care assistance, you may be well aware that the cost can be devastating to a family.

Unfortunately, the cost of a traditional long-term care policy is out of the question for most people as they tend to be very expensive.

Prudential’s Living Needs Benefit Rider can ease the cost and lessen the devastation of long-term needs by allowing you to access the policy’s death benefit through their Nursing Home Option.

QUALIFICATIONS FOR ACCELERATING THE DEATH BENEFIT:

• Must be confined to a nursing home for at least 6 months
• Must provide proof that you are expected to remain permanently in the nursing home

If you qualify to accelerate the Living Needs Benefit rider, you may elect to receive up to 70%-80% of the policy’s death benefit tax-free to help pay for long-term care needs.

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Living Needs Rider & Terminal Illness

An additional feature to the Living Needs Benefit is the ability to accelerate funds from the life insurance death benefit for any qualifying terminal illness. This is called an accelerated death benefit rider.

In order to receive funds for a qualifying terminal illness, there must be evidence that your life expectancy is less than 6 months.

If qualification has been met to accelerate the Living Needs Benefit rider for the terminal illness option, you may elect to receive up to 90-95% of the policy’s death benefit tax-free.

Prudential Living Needs Benefit Rider and Accelerated Benefits

If find yourself needing to accelerate a portion of the death benefit proceeds under the Living Needs Benefit rider, it will reduce your death benefit based on the amount requested.

Funds from your life insurance will be paid to you either monthly or by lump sum. Your life insurance policy will continue with a reduced death benefit protection and premiums will be readjusted accordingly.

IMPORTANT:
If death benefit funds have been accelerated under the Living Needs Benefit rider and you should pass away before all funds have been paid, your beneficiary will receive the balance of both the remaining accelerated funds as well as the remaining balance of the death benefit. (For more information, read our “Term Life Insurance With Accelerated Living Benefits“).

Prudential’s Living Need Rider Can Save Your Life Savings

The expenses incurred from long-term care or terminal illness could be enough to cause financial devastation to any family’s life savings.

The Living Needs Benefit rider can help protect you and your family from using your life savings or retirement savings should you suffer from such illnesses.

This Living Needs rider should not be mistaken for long-term care or health insurance policy. Prudential’s Living Needs Benefit rider is a life insurance policy with a great FREE feature to help pay for such expenses should they arise. So you don’t have to worry about an additional cost on your premium payments.

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Prudential Life Insurance Quotes with The Living Needs Benefit Rider

Getting a Prudential life insurance quote with the Living Needs Benefit rider is simple. To the right of the screen is the instant life insurance quote form which you can use to instantly get Prudential life insurance rates.

Looking to compare life insurance policies? We can help. Enter your ZIP code to get free quotes from multiple insurers.

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