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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.