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Best Life Insurance With Living Benefits: Compare 6 Companies in 2026
What if you survive a serious illness, but your paycheck doesn't?
Some life insurance policies can help while you're alive by allowing early access to your death benefit after a qualifying illness. But the benefits, costs, and limitations can be very different from company to company.
Compare National Life Group, Nationwide, Foresters Financial, Corebridge Financial (AIG), F&G, and Mutual of Omaha.
Life Insurance Isn't Only About Dying
Life insurance is primarily designed to protect the people you leave behind. But eligible accelerated death benefit riders may also help provide financial flexibility if you experience a qualifying terminal, chronic, or critical illness.
Terminal Illness
Certain policies may provide early access to a portion of the death benefit when a physician certifies a limited life expectancy under the contract.
Chronic Illness
Some riders provide benefits when the insured meets defined requirements involving activities of daily living or severe cognitive impairment.
Critical Illness
Some policies may provide benefits for specifically defined medical events, such as certain heart attacks, strokes, or cancers. Not every diagnosis qualifies.
Important: Living Benefits are not health insurance or disability income insurance. Accelerated benefits generally reduce the remaining death benefit, and some are discounted when paid early.
Compare Living Benefits by Insurance Company
The following comparison identifies features described in published carrier materials. Availability depends on the exact policy, issuing insurer, underwriting, and state.
| Company | Illness-related options | Rider cost structure | AM Best* |
|---|---|---|---|
| National Life Group | Terminal, chronic, critical illness, critical injury; optional Premium Chronic Care | Eligible standard ABRs: no additional premium. Premium Chronic Care: additional charge. | A+ |
| Nationwide | Living Access Benefits, LTC Rider, CareMatters, CareMatters Together | Eligible Living Access: no upfront rider charge; cost when exercised. LTC protection has a separate cost. | A+ |
| Foresters Financial | Terminal, chronic, critical illness on selected products; terminal-only on certain others | Eligible ABRs may be included without additional premium; benefit payment is subject to rider calculation. | A |
| Corebridge (AIG) | Quality of Life accelerated benefits for qualifying terminal, chronic, and critical illness | Depends on policy and rider. Confirm charges and benefit calculation in illustration. | A |
| F&G | Terminal, chronic, and critical illness accelerated benefits on eligible IUL policies | Published eligible riders: no additional premium; discount and administrative fee may apply at claim. | A |
| Mutual of Omaha | Chronic illness, LTC rider on selected IUL; terminal illness or nursing home benefit on eligible final expense products | LTC rider has insurance charges; other rider cost depends on product. | A+ |
*AM Best ratings refer to specified issuing insurance entities and measure financial strength, not the quality of Living Benefits. Ratings may change.
Explore Each Carrier's Living Benefits
National Life Group
Life insurance with multiple accelerated benefit rider options.
- Terminal Illness ABR: May accelerate a portion of the death benefit following a qualifying terminal illness.
- Chronic Illness ABR: May provide access after meeting defined chronic illness requirements.
- Critical Illness ABR: Covers qualifying critical illnesses as defined in the rider.
- Critical Injury ABR: May provide benefits for qualifying serious injuries on eligible products.
- Premium Chronic Care ABR: An optional, separately charged rider on eligible FlexLife policies, with defined monthly benefit options.
Published standard ABR materials identify no additional premium for eligible terminal, chronic, critical illness, and critical injury riders. The amount paid upon acceleration is generally discounted and may be reduced by policy debt. Premium Chronic Care has an additional charge.
Families seeking life insurance with multiple illness-related accelerated benefit options, homeowners protecting a mortgage, and individuals comparing term or permanent protection with additional flexibility.
State restrictions: Premium Chronic Care is not available in California or New York. Other riders vary by policy and state. Life Insurance Company of the Southwest is not authorized in New York.
Nationwide
Life insurance Living Access Benefits and dedicated long-term care solutions.
- Terminal Illness: Early access to an eligible death benefit when the policy's terminal illness definition is met.
- Chronic Illness: Early access for qualifying permanent chronic illness.
- Critical Illness: May provide benefits following certain covered critical illnesses.
Nationwide describes Living Access Benefits as included on many eligible policies without an upfront rider charge. A cost may apply when a benefit is exercised, and the remaining death benefit may be reduced by more than the cash received.
Nationwide also offers a distinct LTC rider on eligible life insurance policies. It allows the policyowner to use a portion of the death benefit for qualifying long-term care needs.
This can be relevant for individuals concerned about home care, assisted living, nursing home care, or other long-term care arrangements.
CareMatters is life insurance-linked long-term care coverage with a fixed-premium universal life insurance component. Once eligible for benefits, its cash indemnity design can provide a monthly benefit without submitting monthly care receipts.
- Potential flexibility to use informal caregivers, including qualifying family members.
- Cash benefits after the claim requirements are satisfied.
- Designed to address long-term care expenses.
- CareMatters materials describe a minimum residual death benefit of 20%, subject to contract terms.
Nationwide also offers a shared-benefit long-term care solution for two insured people under one policy, subject to eligibility and availability. Its published materials describe a minimum residual death benefit of 10%.
Eligible Living Access Benefits may have no upfront rider premium. Dedicated LTC riders and CareMatters coverage involve a separate insurance cost that must be illustrated. These products should not be described as free long-term care coverage.
People planning for future care needs, individuals who want flexibility regarding caregivers, and couples exploring shared long-term care protection.
State restrictions: Nationwide specifically directs consumers to select their state for LTC rider and CareMatters availability. Product versions, eligibility, and approved riders vary by state.
Foresters Financial
Family protection with eligible accelerated benefits and member features.
- Your Term: Eligible accelerated benefits may cover qualifying terminal, chronic, and critical illnesses.
- Advantage Plus II Whole Life: Eligible accelerated death benefit rider options.
- SMART Universal Life: Eligible terminal, chronic, and critical illness accelerated benefits.
- Live Well Plus: Accelerated benefits may be available for qualifying illnesses.
- PlanRight Whole Life: Published materials describe terminal illness acceleration; do not assume the same chronic and critical illness coverage applies.
Certain products also describe a Family Health Benefit Rider for limited family health expenses associated with specified natural disasters. This is not general medical insurance.
Foresters describes accelerated death benefit riders on selected products as potentially included without additional premium. The actual benefit amount and remaining death benefit depend on the certificate provisions. Other optional riders may cost extra.
Families seeking term or whole life insurance, parents exploring coverage for children, and consumers interested in Foresters' additional eligible member benefits.
State restrictions: Product and rider approval varies by state. Foresters' published PlanRight materials specifically state that the product is not for use in Oregon.
Corebridge Financial (AIG)
Quality of Life insurance with qualifying illness benefits.
- Terminal Illness: Potential acceleration after meeting the policy's terminal illness definition.
- Chronic Illness: Potential access for a qualifying chronic illness.
- Critical Illness: Potential benefits for specified covered critical illnesses.
Corebridge's Quality of Life insurance materials describe life insurance protection combined with accelerated benefits for qualifying illnesses. Actual features vary by product and issuing insurer.
Do not assume that every Corebridge policy includes the same rider or benefit calculation. The current illustration and rider forms should be reviewed for any charges, acceleration limits, discounts, or fees.
Families comparing customizable life insurance, homeowners seeking term protection, and applicants who want to review Quality of Life accelerated benefit options.
State restrictions: Corebridge notes that accelerated benefit definitions and availability vary by state. New York and non-New York forms may differ.
F&G Life
Indexed universal life insurance with eligible accelerated illness benefits.
- Terminal Illness: Published eligible rider materials describe acceleration of up to 100% of the death benefit, subject to a $1 million maximum and policy terms.
- Critical Illness: May cover specifically defined illnesses, including certain cancers, strokes, heart attacks, organ transplants, and other listed conditions.
- Chronic Illness: May allow periodic acceleration after qualifying chronic illness certification, subject to annual and lifetime limits.
F&G's published eligible IUL rider materials state that no additional premium is required for these accelerated benefits. However, the benefit paid may be less than the amount accelerated because of actuarial discounting and administrative charges.
Eligible indexed universal life policies may also provide access to available cash value through policy loans or withdrawals. This is different from making an accelerated illness claim. Loans and withdrawals can reduce policy values, affect guarantees, and potentially create tax consequences.
Individuals interested in permanent indexed universal life insurance with potential cash value accumulation and qualifying Living Benefits.
State restrictions: F&G's published materials contain different California chronic illness provisions depending on product and form. Verify current California eligibility before presenting this benefit. F&G's named issuing insurer operates outside New York.
Mutual of Omaha
Life insurance with chronic illness and long-term care planning options.
- Chronic Illness Rider: May provide accelerated death benefits when qualifying chronic illness requirements are met.
- Long-Term Care Rider: Available on selected Income Advantage and Life Protection Advantage IUL policies, subject to state approval and underwriting.
- Living Promise Whole Life: Its eligible level-benefit version includes an accelerated death benefit provision for terminal illness or qualifying nursing home confinement.
Published LTC rider materials describe reimbursement benefits for qualifying nursing home, assisted living, home health care, and adult day care expenses, with selectable monthly benefit percentages and a 90-day elimination period.
This is a different structure from an accelerated chronic illness rider that calculates a discounted death benefit payment.
The LTC rider carries insurance charges reflected in the policy. Other accelerated benefit riders and final expense features have product-specific cost structures. An illustration is necessary to compare actual premiums.
People comparing life insurance and long-term care strategies, families seeking permanent protection, and seniors considering final expense insurance with limited accelerated benefit features.
State restrictions: Mutual of Omaha's published IUL LTC rider comparison specifically states that the LTC rider is not available in California. Other chronic illness or accelerated benefit provisions must be reviewed separately.
Three Different Ways Life Insurance May Provide Money While You're Alive
Accelerated Death Benefits
Early access to an eligible death benefit following a qualifying illness. Generally reduces the amount remaining for beneficiaries.
Long-Term Care Benefits
A dedicated LTC rider or linked-benefit product may help pay for qualifying care needs, with its own benefit limits, charges, and claims requirements.
Cash Value Access
Some permanent policies allow loans or withdrawals against available cash value without requiring an illness diagnosis. These transactions have separate risks.
Are Living Benefits Really Free?
Some insurers include accelerated benefit riders without charging an additional premium when the policy is issued. But that doesn't mean every future benefit payment is free.
No Additional Rider Premium
You may not pay a separate upfront premium for an eligible rider. If you later qualify and accelerate your death benefit, the amount received may be discounted or reduced by fees.
Additional-Cost Rider
Certain LTC riders, premium chronic care riders, and other optional features have a separate cost. The actual amount depends on your age, health, coverage, benefit selections, and policy.
There is no universal rider price. A meaningful premium comparison requires the same insured profile, coverage amount, underwriting class, policy type, and state. PlanRight can prepare personalized illustrations rather than publishing potentially misleading sample premiums.
What Happens to Your Bills if You Get Seriously Sick?
Health insurance may help with covered medical expenses, but it doesn't automatically replace lost income or pay your mortgage, car payment, or household expenses.
Protect Your Home
Keep mortgage or rent obligations in mind when selecting life insurance coverage.
Protect Your Family
Consider the financial responsibilities that continue during a serious illness.
Protect Your Options
Understand which eligible benefits could provide flexibility if a covered event occurs.
Frequently Asked Questions About Living Benefits
Which life insurance company has the best Living Benefits?
There is no single best company for everyone. National Life Group, Nationwide, Foresters, Corebridge, F&G, and Mutual of Omaha offer different eligible features. The right choice depends on your coverage needs, health, budget, state, and specific rider definitions.
Can I receive money if I have cancer?
Possibly. Certain critical illness riders cover specifically defined cancers. Diagnosis, severity, exclusions, and other requirements matter. A cancer diagnosis does not automatically qualify for payment.
What if I have a stroke or heart attack?
Some critical illness riders include defined strokes or heart attacks. Eligibility depends on the specific medical criteria in your contract.
What's the difference between chronic illness and long-term care coverage?
A chronic illness accelerated benefit generally uses part of the life insurance death benefit. A dedicated LTC rider or linked-benefit product may offer a defined care benefit structure with different payout rules and costs.
Does Nationwide offer long-term care insurance with life insurance?
Yes. Nationwide offers LTC riders on eligible life policies and CareMatters linked-benefit solutions. Availability and specific provisions vary by state.
Are Living Benefits available in California?
Some accelerated death benefit riders are available in California, but not every carrier feature is. For example, National Life Group's Premium Chronic Care rider and Mutual of Omaha's cited IUL LTC rider are not available in California. Other riders must be checked by policy form and insurer.
Do Living Benefits reduce the death benefit?
Generally, yes. Accelerating a death benefit usually reduces the amount remaining for beneficiaries. The reduction may exceed the cash received because of discounting or fees.
Can I add Living Benefits to an existing policy?
It depends on the policy and carrier. Some riders must be included at issue. Review your current policy before assuming benefits can be added.
Are Living Benefits tax-free?
Some accelerated death benefits may qualify for favorable federal income tax treatment, subject to applicable law and circumstances. Consult a qualified tax advisor.
Don't Just Buy Life Insurance. Understand What It Can Do.
The right policy should be selected for your family's financial needs, not simply because a rider sounds attractive. Compare your options with a licensed PlanRight professional.
Carrier Information & Resources
For additional information, review the insurers' official product descriptions and rider disclosures.