What is often provided by living benefits in permanent life insurance?

Living benefits in permanent life insurance typically allow policyholders to access their policy's cash value while they are still alive. This feature is crucial because it provides flexibility and financial support during the policyholder's lifetime, making it a key advantage of permanent life insurance.

The ability to take loans against the policy's cash value means that the policyholder can borrow a portion of the accumulated cash value, often at favorable interest rates. This can help cover emergencies, pay for unexpected expenses, or supplement retirement income, thus enhancing the overall utility of the policy beyond just providing a death benefit.

In contrast, other options focus on aspects that do not align directly with living benefits. Access to policy dividends relates to mutual life insurance companies and is not a universal feature of all permanent policies. Free additional riders are not guaranteed and can vary by policy, and the total surrender value at death typically refers to the payout upon death, which does not provide benefits to the policyholder during their lifetime.