The Enhanced Living Benefits (ELB) rider is a popular way to enhance the benefits of a life insurance policy. To make illustrating this rider even easier we have added a max ELB benefit box that will calculate the maximum benefit amount for you!
The ELB rider provides a prepayment of the death benefit under either, or both, of two triggers:
1. Confinement trigger* which requires the insured to be confined to and receiving care in an eligible nursing home, or
2. Chronic condition trigger* which typically requires the insured to have a condition resulting in being permanently unable to perform, without substantial assistance from another individual, at least two of six activities of daily living (ADLs).
*Benefit triggers, elimination period and concurrent benefit payments may vary by state.
The total benefit provided by this rider cannot exceed $500,000* or 90% of the base policy's Specified Amount.
*This is subject to state availability. The maximum in some states is $350,000.
For more information about the ELB rider please consult the Product Portfolio found on iKCLife.
For more information about the ELB rider please consult the Product Portfolio found on iKCLife.
To take advantage of this rider simply check the box next to ELB in the Riders section.
In the Rider Information section, checking the 'Max ELB Benefit' box will calculate the max ELB amount based on your case setup. The amount calculated will be shown in the 'ELB Amount' box. After checking the max ELB benefit box any changes you make to your case that would effect the ELB amount, like specified amount, will automatically be taken into account and will increase/decrease the ELB amount.
Let us know if you have any questions on the Enhanced Living Benefits rider or how to add it to your illustration.
Have a Great Day,
Illustration Development Team
1-800-572-2467 x8162
illustrationhelp@kclife.com