A Chronic Illness Rider provides access to a portion of your life insurance policy’s death benefit if you’re diagnosed with a chronic illness. This means if you’re unable to perform certain daily tasks like bathing or eating on your own, you can receive money to help with medical costs or long-term care.
Using this rider reduces the final death benefit your beneficiaries receive, but it offers financial support when you need it most. It’s like having extra security for unexpected health challenges during your lifetime.