What impact can a long-term care benefit rider have on a life insurance policy?

A long-term care benefit rider can indeed have an impact on the death benefit of a life insurance policy. This rider allows policyholders to access a portion of their death benefit while they are still alive to pay for long-term care services. When the rider is utilized, it reduces the overall death benefit available to beneficiaries at the time of the insured's passing. This arrangement is designed to provide financial support for long-term care needs, highlighting the flexibility built into some life insurance policies to cater to the evolving needs of policyholders.

In contrast, while the other options might seem plausible in different contexts, they do not directly relate to the unique function of a long-term care rider. For instance, while there could be circumstances where premiums might increase, this is not a guaranteed result of adding a long-term care rider; rather, it is influenced by the overall policy structure and the insurer's underwriting. Similarly, the impact on cash value typically isn't a direct result of the rider itself and is more dependent on the policy type and its terms. Lastly, extended payment periods relate more to the policy's premium payments rather than the death benefit being affected by the long-term care rider.