Empire State officials have approved the sale of an enhanced accelerated benefit rider developed by Guardian Life Insurance Company of America.
Guardian, New York, says the EAB rider is now available in 42 states.
Guardian is including the EAB rider with whole life insurance policies at no extra charge.
The rider enables policyholders who are permanently chronically ill and are unable to perform at least 2 of 6 activities of daily living to receive benefits early.
The rider also offers acceleration of benefits for any eligible policyholder who suffers from a permanent cognitive impairment that requires supervision, can receive benefits
A policyholder does not have to get an organ transplant or suffer from a catastrophic illness to qualify for acceleration of benefits, Guardian says.