Aviva USA has introduced a new life insurance rider that provides increased flexibility to customers purchasing select Indexed Universal Life policies. The Aviva Accelerated Access rider allows customers who are diagnosed with a chronic illness quick access to funds from the policy’s death benefit. This concept of “living benefits” – a payout of death benefits in advance as critical health needs arise – meets the growing demand from consumers facing unexpected and increasing costs associated with their illness. “For years, we have led the industry in Indexed Universal Life insurance and in finding ways to help protect our customers’ financial condition,” said Chris Jones, Aviva USA chief marketing officer. “Our Wellness for Life rider rewards you for living a healthy lifestyle, and the new Accelerated Access rider offers a financial safety net should chronic illness occur later. Bundled together, the two riders can help provide options and a financial contingency plan.” With the Accelerated Access rider, a customer certified as chronically ill by his or her physician and who meets all eligibility requirements may access a majority of the life insurance policy’s death benefit, generally on a tax-free basis. The proceeds can be used by the policyholder to help pay for costs incurred in living with their condition – including nursing home costs, family care, assisted living, adult daycare, home health care or toward their mortgage. “Our new rider differs from Long-Term Care insurance in that it can be more affordable and flexible, and provide a death benefit while helping to meet the costs associated with the care a customer may need,” said Jones. “This takes a burden off an individual with a critical health issue. Coupled with our Wellness for Life rider, it makes Aviva’s Indexed Universal Life offering unmatched.” According to AARP, 70 million Americans age 50 and older suffer from at least one chronic condition, and 11 million live with five or more chronic conditions. While not all potential chronic conditions will meet the requirements of riders like Aviva’s, due to medical advances that extend life expectancy, the demand for funds to live with a chronic condition will only increase.