Which rider allows the policy owner to receive benefits while still alive under certain conditions?

The accelerated (living) benefit provision is designed specifically to allow policyholders to access a portion of their life insurance benefits while still alive, under certain qualifying conditions. This rider is usually applicable when the insured faces a terminal illness or catastrophic health issue, allowing them to receive funds in advance to help cover medical expenses or other financial needs during a difficult time.

The option also supports the policy owner in managing costs associated with serious illnesses, ensuring they have financial resources available when they need them the most. This feature emphasizes the policy's flexibility and the insurer's commitment to supporting the insured's well-being, rather than strictly providing a payout upon death.

In contrast, other riders mentioned may provide different benefits or enhancements that do not focus on accessing funds while living. The return of premium rider, for example, is primarily concerned with refunding premiums if the insured outlives the policy term, while the double indemnity rider pertains to an additional payout due to accidental death. The guaranteed insurability rider allows for additional coverage to be purchased without medical underwriting at specified future dates but does not provide living benefits.