Prudential Plans ‘Living Payouts’ to Terminally Ill

NEW YORK — Prudential Insurance Co. said Friday it will make so-called “living payouts” to life insurance policyholders who are terminally ill or permanently confined to a nursing home to help ease their last months.

Prudential, based in Newark, N.J., said the benefit option will be available on current policies having death benefits of at least $25,000 and on new policies of at least $50,000.

The option will be offered at no additional cost, the insurer said.