What does Accelerated Option mean? Read on to discover the definition & meaning of the term Accelerated Option - to help you better understand the language used in insurance policies.
An accelerated option is a provision that may be included in a life insurance contract, and it enables the policyholder to receive partial benefits before their death. In other words, it "accelerates" the benefit payout to a certain extent. On the other hand, it may also refer to the option to use a permanent life insurance policy's accumulated cash value to pay the remaining premiums on it.
We hope the you have a better understanding of the meaning of Accelerated Option.