What is Actuarial Deduction? And why is it so much? Currently in the final stages of my Living Benefits....My Life Insurance policy is a $500K Term policy with Living Benefits. I suffered a stroke...Didn't help that I ended up doing 4 CT scan in January 2021 and another 1 in May (thought my stroke came back).
I was told that my Living Benefits payout will be around $250K but with an Actuarial Deduction of $133K, I will only be getting $117k. Why so much? That is a 53% loss of money? Where did that money go?
I was told that my Living Benefits payout will be around $250K but with an Actuarial Deduction of $133K, I will only be getting $117k. Why so much? That is a 53% loss of money? Where did that money go?