What triggers the payment of an accelerated (living) benefit?

The payment of an accelerated (living) benefit is primarily triggered by the occurrence of a qualifying event that is certified by a physician. This provision allows policyholders to access a portion of their life insurance benefits while they are still alive, typically due to a terminal illness or a serious health condition that limits life expectancy. The necessity of having a certification from a physician ensures that the claims are legitimate and meet the specific criteria laid out in the insurance policy, such as the nature and severity of the health condition.

The other options, while relevant to insurance policies in general, do not directly initiate the payment of an accelerated benefit. For instance, verification of policy ownership is crucial for establishing who is entitled to benefits but does not itself trigger an accelerated payout. Compliance with state regulations is important for the insurance provider to operate legally but does not specifically relate to triggering the benefit. Meeting minimum health requirements might be an aspect of qualification for certain types of policies, but the direct trigger remains the physician-certified qualifying event that necessitates the early benefit payment.