The living benefit option that allows access to part of the death benefit early is the:

• A. Accelerated death benefit
• B. Waiver of premium
• C. Cash value
• D. Long-term care rider

Answer: (A)

The main idea is a living benefit that lets the insured access part of the death benefit before death. The option that matches this is the accelerated death benefit. It’s a rider that provides funds during the insured’s lifetime when certain qualifying conditions are met (often terminal or chronic illness or other serious medical needs). The money received is taken from the death benefit itself, so the remaining death benefit is reduced by the amount accelerated. This feature is specifically about obtaining early access to a portion of the death benefit, rather than continuing the policy under disability, accessing cash value, or receiving care benefits.

Why the others don’t fit: a waiver of premium only pauses premiums if the insured becomes disabled but doesn’t give early access to death benefits; cash value refers to the policy’s savings component that you can borrow from or withdraw (which is not the same as accelerating a portion of the death benefit); a long-term care rider provides LTC benefits to cover care costs, not early access to the death benefit.