Living Benefits

Benefit from your life insurance during your lifetime

The Power of Life Insurance
In the unfortunate event of your death, losing you will be hard enough for your family. With a life insurance policy, your family will be protected against the loss of your income. Your family will receive the Death Benefit of your policy federal income tax free to help with burial costs, continue their standard of living, help with college expenses and more. For example, did you know that your Columbus Life policy includes a rider that can give you access to your death benefit while you are living?

Living Benefits
Columbus Life’s Life Plus Accelerated Death Benefit Rider®¹ gives you the power to access a portion of your life insurance policy’s death benefit while you are still living. This valuable rider is available on all life insurance policies offered by Columbus Life at no additional premium². This benefit gives you access to the cash value and death benefit of your policy in the event of a Specified Medical Condition, Terminal Illness, or a Chronic Illness (inability to perform two out of six Activities of Daily Living³). The money you receive can be used to help pay medical bills, mortgage and home maintenance costs, or anything you want (a vacation with your family). In many instances, these benefits can be received tax-free.

Take the Next Step
If you think a Columbus Life policy with Life Plus Accelerated Death Benefit Rider® is the right strategy for your plans, it’s important to work closely with your financial professional. Contact your advisor today to find out how this planning solution can help protect your future and that of your loved ones.

More Information


The Value of Living Benefits
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Not for use in California

¹ Product provisions, availability, definitions and benefits may vary by state.
² Additional charges may apply.
³The six Activities of Daily Living are routine daily activities generally considered necessary for a self-sustaining person to remain independent: eating, bathing, continence, dressing, toileting, and transferring. Some states define Chronic Illness as Permanent Confinement to a Nursing Home. Please contact your financial professional for details on your state. Advance will reduce the death benefit and interest will be charged. The advance may be increased to keep the policy active. Rider series CLR-202 1409, CLR-179 0707, CLR-179 1208, CLR-179 1308, CLR-201 1208, CLR-201 1308 and CLR-202 1409 CA.

An accelerated death benefit is not to be sold as or to replace long-term care insurance, nursing home insurance, or home care insurance. The proceeds from the policy are not intended to receive favorable tax treatment under Section 101(g) of the Internal Revenue Code (26 U.S.C. Sec. 101(g)).

Proceeds provided by the policy in the form of an accelerated death benefit provided by the policy will be paid when the insured has become chronically ill or otherwise eligible for benefits from a qualified event.

An Accelerated Death Benefit Rider is not Long-Term Care Insurance. An Accelerated Death Benefit Rider is attached to a life insurance policy and provides an advance on the death benefit if the policy holder meets specific qualifying events outlined by the insurance company. Long-Term Care insurance is a standalone health insurance policy that is designed to pay for the cost of long-term care services.

This is a life insurance benefit that also gives you the option to accelerate some or all of the death benefit in the event that you meet the criteria for a qualifying event described in the policy. This policy or certificate does not provide long-term care insurance subject to California long-term care insurance law. This policy or certificate is not a California Partnership for Long-Term Care program policy. This policy or certificate is not a Medicare supplement (policy or certificate).

© 2014 Columbus Life Insurance Company

Updated 05/28/2015