Equitable Reserve Association understands that members who are terminally ill have a great enough burden to bear without adding to it undue financial concerns. Equitable Reserve Association will waive the one-time administrative charge and the annual interest charge for up to one year on funds advanced under the Living Need Accelerated Benefit rider.
- You must complete a written application requesting the Living Need Accelerated Benefit rider be attached to your policy. This will be done at no charge.
- To be eligible to use the rider, a diagnosis of death within 12 months or less must be made by a practicing physician. The money advanced by the rider may be used in any way.
- The rider is available on policies of $10,000 or larger. The maximum benefit is 65 percent of your life insurance death benefit — not to exceed $100,000 — minus the policy's cash surrender value and any outstanding policy loans.
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