What is a key feature of a "living benefit" rider in insurance policies?

A "living benefit" rider in insurance policies is designed to provide policyholders with access to a portion of their death benefit while they are still alive, typically in the event of a terminal illness, chronic illness, or other specified conditions. This feature adds significant value to the policy, as it enables the insured to use funds for medical expenses, living expenses, or other needs during challenging times, rather than solely relying on the death benefit which would only be available upon passing.

This feature distinguishes the rider from other options, as it emphasizes financial support in the policyholder's lifetime rather than benefits or guarantees related to premiums or death benefits in cases of policy lapse. The focus on providing meaningful financial assistance when it is often needed most makes the living benefit rider a noteworthy inclusion in many life insurance policies.