A life insurance policy provision which allows the policyholder to apply the accumulated cash value, as a single premium payment, to pay off the insurance policy or to mature it as an endowment. An example of an acceleration option is the accelerated death benefit rider that allows the policyholder to receive the benefits in advance. If the policyholder doesn’t exercise his right, he will always be entitled to receive the benefits in the case of illness. This option may also allow the policyholder to use the cash value of the policy to payoff, prematurely, the remaining balance of premiums due in a single payment.

An accelerated option may also come in the form of a rider which enables the acceleration of benefits payment, in full or in part, prior to the day on which they would otherwise become payable.