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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.