In terms of life insurance policies, it is important to note that multiple claims on permanent life insurance policies to access death benefits early may not always be feasible. Ordinarily, the accelerated death benefit rider enables a policyholder to access living benefits from their coverage in case of a terminal illness diagnosis.
However, the quantity and frequency of these early death benefit claims depend largely on the specific stipulations embedded within each individual policy contract. Some insurance providers might restrict claimants to only one withdrawal as a lump sum payment, while others could permit numerous withdrawals up until the maximum limit of the terminal illness benefit rider has been reached.
Understanding such provisions becomes essential when making life insurance claims, as it directly impacts one's ability to utilize this provision more than once during their lifetime.