A. Yes, it's possible. Some insurance carriers do offer living benefits for a Term life product.
One of the most important living benefits is usually free from most carriers - if the policyholder is diagnosed with a terminal disease such as cancer, he or she could access a portion of the death benefit.
Other than the above living benefit, there are other types of living benefits also offered by some, but not all, carriers. For example, living benefits that allow a Term life policy holder to access the death benefit of the policy for chronic illness or a LTC event.
However, note that each carrier has its own rules, and not all carriers offer such living benefits, and the ones that do offer will charge higher premiums.
If you are interested in this type of Term life policy, please contact us.