What is the function of an Accelerated Death Benefit Rider?

The function of an Accelerated Death Benefit Rider is indeed to allow the policyholder to access a portion of the death benefit while still alive in the event of a terminal illness. This rider is essential for individuals facing a serious health crisis, as it provides financial support during a time of significant medical needs and expenses. By allowing access to these funds, the rider enables policyholders to manage their care and end-of-life decisions more comfortably, reducing the burden on their loved ones.

The other options do not accurately describe the purpose of this rider. For example, while providing death benefits to beneficiaries is a fundamental aspect of life insurance, it does not specifically involve accessing benefits while alive, which is the key feature of the Accelerated Death Benefit Rider. The waiver of premium payments if the insured becomes disabled addresses a different type of rider that supports policy maintenance during periods of financial hardship. Lastly, resetting premium payments every five years does not pertain to this rider's scope, as it relates to maintaining the policy itself rather than facilitating access to benefits during life.