Jeffrey Manola is an experienced life insurance agent and the founder of Top Quote Life Insurance. His mission when he created Top Quote Life Insurance was to provide online consumers searching for life insurance with the absolute best quotes for term life insurance, permanent life insurance, no medical exam life insurance, and burial insurance. Not only does he strive to provide you with the ...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Nov 4, 2020

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Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

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Prudential Living Needs Benefit Rider – Often known for their 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 terminal illness option. Both options allow a policyholder the option to accelerate their policy’s death benefit for cash under qualified 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. 

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

Prudential’s Living Needs Benefit Rider Can Ease The Cost of 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 Benefit 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.

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.

What Happens to Life Insurance if the Death Benefit has Been Accelerated?

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 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.

Prudential’s Living Needs Benefit 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.

The Living Needs Benefit rider should not be mistaken as 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.

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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.