Living benefits or accelerated benefits are paid as an early payment. Their value can vary between 25-100 percent of the total amount of the policy. The amount and method of payment will vary with each policy.

Viatical settlements involve the sale of a life insurance policy to a viatical settlement company. They, in turn, become the beneficiary. Again, each company will have its own guidelines. Before making any changes to a policy, talk with someone you can trust, such as a financial planner, accountant, or attorney. Make sure you clearly understand the implications before making any firm decisions. For a free brochure "Viatical Settlements: A Guide for People with Terminal Illnesses" call the Federal Trade Commission at 202-326-2222.