Accelerated death benefits are a rider that most insurance companies allow you to purchase. With this rider if you are diagnosed with a terminal illness, a policy may allow you to receive a substantial portion of the death benefit while you are still alive. You will be able to use the money for whatever medical care you need or final wishes you have. If you use your accelerated death benefits, your policy’s death benefit will be reduced by the amount you withdraw in accelerated death benefits, plus interest.