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The Living Needs Rider, which is beneficial upon a terminal diagnosis, has a major advantage: the "benefit received while alive is tax-exempt." However, utilizing this rider requires careful consideration, as it affects the calculation of future inheritance tax and the division of assets. In particular, a crucial point of caution is that if the insured passes away leaving unused funds from the benefit, the tax-exempt allowance normally applied to the death benefit cannot be utilized, potentially increasing the burden of inheritance tax. This article details the rider's tax mechanism and the specific impact on inheritance that families should be aware of.

In the urgent situation of a terminal diagnosis, it is not uncommon for the insured to be unable to complete the claim procedures themselves. To ensure the family can smoothly receive the Living Benefit Payment from the Living Needs Rider, understanding the "Designated Agent Claim System" is essential. This article explains the conditions under which a family member can file a claim as an agent and the necessary preliminary procedure of designating an "Agent for Claim." Furthermore, we will cover the general timeline for this highly urgent benefit, which is often paid out in as little as 5 business days after document submission. Please confirm the preparations needed to maximize the utility of this rider.

Among the insurance types that protect our lives—medical insurance, cancer insurance, and life insurance—where is the "Living Needs Rider" positioned, and what role does it play? This rider, often provided for free, possesses great power to alleviate financial anxiety when the insured receives a terminal diagnosis. This article clarifies why the Living Needs Rider is exclusively attached to life insurance (which provides death coverage) and details how it can be utilized as a "free-to-use fund during life"—a fund that medical and cancer insurance cannot fully cover—by explaining the differences between them.

Are you familiar with the "Living Needs Rider"? Although it is an insurance rider that can often be added for free, it provides great peace of mind in the event of a terminal diagnosis. This article explains everything from the basics of this rider to its greatest benefit—receiving a lump sum of money while alive—and the precautions to take when using it, such as the reduction of the death benefit. To protect your loved ones and your final time together, it is important to correctly understand the necessity, benefits, and drawbacks of this rider.