New messages from Aflac |
View Notifications opens a dialog
Close X dismisses the notification alert
Life insurance policies primarily provide financial benefits for a policyholder’s loved ones after they pass away. However, life insurance with living benefits offers features and protections that provide value while you’re still alive. Let’s explore how these life insurance policies work and the different types of living benefits that may be available to you.
Table of Contents
Living benefits of life insurance are policy features that can provide additional financial support to you and your loved ones, such as cash value, an accelerated death benefit rider, or long-term care rider. Living benefits are available on either term life or permanent life insurance policies:
Depending on your life insurance policy, you may opt for several living benefits. Some of the most common include:
An accelerated death benefit rider, or ADB rider, may let you access a portion of your death benefit early if you’ve been diagnosed with a qualifying illness. This benefit can help you pay for hospital bills, nursing home care, hospice and more expenses related to a terminal or serious illness.1
A critical illness rider activates when you’ve been diagnosed with a covered critical condition like a stroke, heart attack, or cancer. This rider can help you access your death benefit early but will likely reduce the amount received by your beneficiaries after your death. If you don’t want to tap into your benefits, however, you can also consider a standalone critical illness insurance policy.2
Like a critical illness rider, a chronic illness rider allows you to access your death benefit if you’ve been diagnosed with a chronic illness. Insurers have different guidelines for what constitutes a chronic illness and you may have to have a healthcare professional confirm you cannot perform activities of daily living, like bathing or dressing.2
If you outlive a term life insurance policy, a return of premium rider refunds some or all of your premium payments. Keep in mind that this rider can significantly increase the cost of your policy.1
If you require long-term care not covered by traditional health insurance, a long-term care rider gives you access to a lump sum or percentage of your death benefit each month. Like an ADB rider, it will likely reduce the payout to your beneficiaries, but it can support long-term care costs during your life.1
Permanent life insurance offers cash value, a savings component that grows over time as you continue paying premiums. You can access the cash value component of your life insurance policy in several ways:
Usually, cash value withdrawals are non-taxable as long as you don’t take out more than you’ve already paid in premiums. If you surrender your life insurance policy, however, you’ll forfeit your policy and may have to pay taxes on policy gains.3
Don’t wait until it’s too late. Help cover yourself and your family with coverage from Aflac.
Get StartedLiving benefits of life insurance can offer several key benefits:
If you’re interested in a life insurance policy with living benefits, there are a few simple steps to take:
A life insurance policy can help your family after you pass on. Policies with living benefits, however, can help supplement a fixed income or provide added financial support for medical and long-term care expenses. Aflac offers life insurance with living benefits, including cash value and an accelerated benefit rider. Start chatting with an agent and get a quote today.
Ready to get life insurance?
Get Started
Learn more about the differences between term vs. permanent life insurance so you can decide which type of policy is right for you.
Does term life insurance build cash value? Find out if these policies have a cash value component and whether cash value life insurance is right for you.
Learn more about the differences between term vs. permanent life insurance so you can decide which type of policy is right for you.
Does term life insurance build cash value? Find out if these policies have a cash value component and whether cash value life insurance is right for you.
1 NerdWallet – What Are Life Insurance Living Benefits? Updated July 29, 2025. https://www.nerdwallet.com/article/insurance/living-benefits-life-insurance. Accessed April 23, 2026.
2 Experian – What Are Living Benefits for Life Insurance? Published August 2, 2025. https://www.experian.com/blogs/ask-experian/living-benefits-of-life-insurance/. Accessed April 23, 2026.
3 Investopedia – Accessing Cash From Your Life Insurance: Pros, Cons, and Tips. Updated October 24, 2025. https://www.investopedia.com/articles/pf/08/life-insurance-cash-in.asp. Accessed April 23, 2026.
4 NerdWallet – Term Life vs. Whole Life Insurance: Key Differences and How to Choose. Updated February 20, 2026. https://www.nerdwallet.com/article/insurance/term-vs-whole-life-insurance. Accessed April 23, 2026.
Content within this article is provided for general informational purposes and is not provided as tax, legal, health, or financial advice for any person or for any specific situation. Employers, employees, and other individuals should contact their own advisers about their situations. For complete details, including availability and costs of Aflac insurance, please contact your local Aflac agent/producer.
Aflac coverage is underwritten by American Family Life Assurance Company of Columbus. In New York, Aflac coverage is underwritten by American Family Life Assurance Company of New York.
Aflac life plans – A68000 series/Term Life: In Arkansas, Idaho, Oklahoma, Oregon, Texas, Pennsylvania & Virginia, Policies: ICC1368200, ICC1368300, ICC1368400. In Delaware, Policies A68200, A68300 & A68400. In New York, Policies NY68200, NY68300 and NY68400. Whole Life: In Arkansas, Idaho, Oklahoma, Oregon, Texas, Pennsylvania & Virginia, Policies: ICC1368100. In Delaware, Policy A68100. In New York, Policy NYR68100. B60000/Term Life: In Arkansas, Oklahoma, Pennsylvania, Texas & Virginia, Policies ICC18B60200, ICC18B60300, & ICC18B60400. Whole Life: In Arkansas, Oklahoma, Pennsylvania, Texas & Virginia, Policies: ICC18B60C10, ICC18B60100. Not available in Delaware, Idaho, New Mexico, New York, Oregon or Vermont. B61000, Juvenile series: In Arkansas, Idaho, Oklahoma, Oregon, Pennsylvania, Texas & Virginia, Policies: ICC18B61JWO & ICC18B61JTO. In Delaware, Policies B61JWO & B61JTO. Q60000 series/Term Life: In Arkansas, Idaho, Oklahoma, Oregon, Pennsylvania & Texas, Policy ICC18Q60200M. In Delaware, Policy Q60200M. In New York, Policy: NYQ60200M. Whole Life: In Arkansas, Delaware & Oregon Policy Q60100M. In Idaho, Policy Q60100MID. In Oklahoma, Policy Q60100MOK. In New York, Policy: NYQ60100M. Not available in VA.
Accelerate death benefit rider: For Aflac: ICC1368055. In New York, Accidental Death Rider: NYQ60055.
Receipt of accelerated death benefits may affect eligibility for public assistance programs. Benefits may also be taxable, and are not expected to receive the same favorable tax treatment as other types of accelerated death benefits that may be available.
Aflac Final Expense insurance coverage is underwritten by Tier One Insurance Company, a subsidiary of Aflac Incorporated and is administered by Aetna Life Insurance Company. Tier One Insurance Company is part of the Aflac family of insurers. In California, Tier One Insurance Company does business as Tier One Life Insurance Company (NAIC 92908).
In AR, DE, ID, OK and VA: Policies ICC21-AFLLBL21 and ICC21-AFLRPL21; and Riders ICC21-AFLABR22, ICC21-AFLADB22, and ICC21-AFLCDR22. Not available in NY. Coverage/plan levels may not be available in all states, including but not limited to NJ, NM or VT.
Benefits/premium rates may vary based on plan selected. Optional riders may be available at an additional cost. Policies and riders may also contain a waiting period. Refer to the exact policy and rider forms for benefit details, definitions, limitations and exclusions.
Aflac WWHQ | Tier One | 1932 Wynnton Road | Columbus, GA 31999
Aflac New York | 22 Corporate Woods Boulevard, Suite 2 | Albany, NY 12211
Z2500244R1
EXP 5/27
