SECTION 4 - INSURANCE BENEFITS (Continued)
EMPLOYEE LIFE INSURANCE (Continued)
Accelerated Death Benefit
What is the Accelerated Death Benefit? Note: The receipt of an Accelerated Death Benefit may be taxable. You should consult your tax consultant or legal advisor before applying for an Accelerated Death Benefit. If, while insured under this plan, you give Lincoln satisfactory Proof of having a Terminal Condition, you may receive a portion of your Life Insurance as an Accelerated Death Benefit. Such insurance will be paid one time to you in one lump sum. The amount of Accelerated Death Benefit payable under this policy is limited to the lesser of the following: 1. the Accelerated Death Benefit amount requested by you; 2. 50.00% of your Life Insurance that is in force on the date you apply for an Accelerated Death Benefit; or 3. $500,000.00. If the amount of your Life Insurance under this plan is scheduled to reduce within 12 months following the date you apply for the Accelerated Death Benefit, the benefit payable under this plan will be based on the reduced amount. When Must You Apply for an Accelerated Death Benefit? You must apply for an Accelerated Death Benefit. To apply, you must give Lincoln: 1. certification, from a Physician, that you have a Terminal Condition, as defined by this plan; 2. supporting evidence satisfactory to Lincoln, documenting the Terminal Condition; 3. a completed claims form.
GLC-LIF-2.12
Employee Life Insurance
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