Which rider allows access to funds before the death of the insured if they have a terminal illness?

The accelerated death benefit rider is designed specifically to provide access to a portion of the life insurance policy's death benefit while the insured is still alive, provided they are diagnosed with a terminal illness. This rider allows policyholders to receive funds in advance, which can be used for medical expenses, daily living costs, or any financial needs that arise due to their condition. This capability can significantly alleviate financial stress during a difficult time, allowing the insured to focus on their health and quality of life.

The waiver of premium rider typically waives future premiums if the insured becomes disabled and unable to work, but does not provide access to death benefit funds. The guaranteed insurability rider allows the insured to purchase additional coverage at specified points in their life without undergoing medical underwriting, but it also does not grant access to benefits before death. The survivorship rider, typically associated with joint life policies, pays out the death benefit upon the death of the second insured and does not offer early access to funds in cases of terminal illness. Thus, the accelerated death benefit rider is the correct answer as it uniquely facilitates access to funds when needed most.