Important message from the Medical Director

American National’s Medical Director

An Accelerated Benefit Rider (ABR) provides the potential to receive a partial or full accelerated life insurance benefit if the insured contracts the coronavirus (or is diagnosed with COVID-19) and experiences all of the following:

1. Hospitalization;
2. Inability to complete certain activities of daily living for a period of 90 days (under the Chronic Illness Rider) or irreversible damage to an organ (lungs, liver, kidneys, or heart) secondary to the severity of the disease (under the Critical Illness Rider); and
3. Significant decrease in life expectancy. 

While some insureds may fall into this category after a severe infection, it is relatively uncommon. Contracting the coronavirus and experiencing symptoms will not necessarily result in an ABR payment.

John F. White III, MD, MBA
Diplomate, American Board of Insurance Medicine
SVP and Medical Director (Life Health Group)

What is a Living Benefit?

American National’s Living Benefits are Accelerated Benefit Riders (ABRs) which provide the potential to receive a partial or full accelerated life insurance benefit if the insured experiences a qualifying medical condition.

• Partial Acceleration is paid in lieu of a portion of the policy’s death benefit. Multiple partial benefits are available if a partial benefit is taken. For example if 25% of the death benefit is accelerated, 75% of the death benefit would remain and could be accessed later, if needed.
• Full Acceleration is paid in lieu of the policy’s death benefit. In the case of a full acceleration, the policy will be terminated after acceleration is paid.

The Accelerated Benefit Riders may provide funds when they are needed to help at a critical time and help protect the money your client has saved for retirement and other life needs.

The Accelerated Benefit Riders Cover Three Types of Illnesses – See Attached Brochures

•  Terminal Illness – provides for the payment of an accelerated benefit if an eligible insured has an illness or chronic condition that is expected to result in Death Within 24 Months.
•  Critical Illness – provides for the payment of an accelerated benefit if an eligible insured experiences a critical illness. Covered critical illness includes 16 Different Illnesses (13 in California). Not available in New York.
•  Chronic Illness – provides for the payment of an accelerated benefit if an eligible insured is unable to perform two out of six activities of daily living  (2 of 6 ADLs) or experiences severe cognitive impairment.