This is a powerful benefit that can provide additional income and retirement protection for you and your family. Living Benefits or Accelerated benefits are additional protection benefits to cover terminal illness or major illnesses (cancer, heart attack, or stroke) while you are alive.  Coverage options vary based on the insurance carrier and state.   For example, if you are diagnosed with a terminal illness or a major illness the insurance company would allow you to accelerate the death benefit (pay you an amount) up to a certain amount. Some companies offer 100% accelerated benefits up to $2,000,000.  No one likes to think about a major illness happening but it does and if it does would it be nice to know that you have this option to cover medical expenses, and day to day living expenses during this time of need.