Life insurance
living benefits

Life insurance living benefits

Accelerated Benefits for Critical,
Chronic, and Terminal Illness (CCT)

Life insurance living benefits

Accelerated Benefits for Critical,
Chronic, and Terminal Illness (CCT)

Updates in California

Learn about the updates to Chronic and Terminal illness benefits in California, including Chronic Illness on Premier Term! These changes are effective November 23.
Learn more
At Midland National, we believe that in addition to death benefit protection, your clients should have access to their benefits while they are living. Midland National's CCT allows the policyowner to access a portion of the death benefit if the insured is diagnosed with a qualifying critical, chronic, or terminal illness. These powerful benefits could provide funds at a time when your client's family might need it most. Midland National automatically includes CCT at policy issue for no additional premium on applicable policies.1
Check out the materials below to learn more and to share these powerful benefits with your clients.

Client-friendly tools

Living Benefits
Watch Video
Watch Video
Living Benefits Case Study
Watch Video
Watch Video
Living Benefits Testimonial
Watch Video
Watch Video
Case Study Flyer
Download
Not for use in CA
ADBE for Term Life Brochure
Download
Not for use in CA

Agent tools

ADBE for Term Life Feature Card
Download
Not for use in CA
ADBE for Term Life How it Works Flyer
Download
Not for use in CA
ADBE Comparison Flyer
Download

Annuity Maximization: Consumer video

MN YouTubeMN LinkedInMN BlogMN TwitterMN Facebook

CALIFORNIA NOTE: Agents offering, marketing, or selling accelerated death benefits for chronic illness in California must be able to describe the differences between benefits provided under an accelerated death benefit for chronic illness and benefits provided under long-term care insurance to clients. You must provide clients with the ADBE Consumer Brochure for California that includes this comparison. Comparison is for solicitation purpose only, not for conversions.


1. For California applicants, there are additional underwriting requirements for the chronic illness benefit. Accelerated death benefits are automatically included at policy issue for no additional premium, subject to eligibility requirements. The death benefit will be reduced by the amount of the death benefit accelerated. Since benefits are paid prior to death, a discount will be applied to the death benefit accelerated. As a result, the actual amount received will be less than the amount of the death benefit accelerated.


An administrative fee is charged at the time of election for the chronic and terminal illness benefit. Payment of Accelerated Death Benefits for chronic illness paid under the endorsement is intended for favorable tax treatment under Section 101(g) of the Internal Revenue Code. Accelerated death benefit payments due to chronic illness are subject to limits imposed by the federal government and any amounts received in excess of these limits are includible in gross income. Clients should seek assistance from a qualified tax adviser for assistance with any questions they may have.


ACCELERATED DEATH BENEFIT – CHRONIC ILLNESS IS NOT LONG TERM CARE INSURANCE NOR IS IT INTENDED TO REPLACE LONG TERM CARE INSURANCE. ACCELERATED DEATH BENEFIT FOR CRITICAL ILLNESS IS NOT HEALTH INSURANCE NOR IS IT INTENDED TO REPLACE HEALTH INSURANCE.


Premier Term (policy form series T142), Accelerated Death Benefit Endorsement for Critical, Chronic and Terminal Illness (form series TR210), Accelerated Death Benefit Endorsement for Chronic and Terminal Illness (form series TR209), Accelerated Death Benefit Endorsement for Terminal Illness (form series TR208) and Accelerated Death Benefit Endorsement for Critical Illness (form TR197, CA only), or state variations, are issued by Midland National® Life Insurance Company, Administrative Office, One Sammons Plaza, Sioux Falls, SD 57193. Product, features, endorsements, riders or issue ages may not be available in all jurisdictions. Limitations or restrictions may apply. Midland National is not licensed in New York.


Sammons FinancialSM is the marketing name for Sammons® Financial Group, Inc.’s member companies, including Midland National® Life Insurance Company. Annuities and life insurance are issued by, and product guarantees are solely the responsibility of, Midland National Life Insurance Company.


FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

917MW-18

FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.

11‑20