An alternative to a life settlement is

A modified endowment contract (MEC) is a type of life insurance policy that has been funded with premiums exceeding federal limits, which leads to different tax implications for withdrawals. While MECs provide death benefits, they do not offer policyholders the ability to access funds while living in the same way that accelerated death benefits do, making them unsuitable as an alternative to life settlements.

A long-term care insurance rider is an addition to a life insurance policy that provides benefits for long-term care services, such as nursing home care. While this rider can help cover expenses associated with a long-term illness, it does not function as a cash access option like an accelerated death benefit rider, thus failing to serve as a direct alternative to life settlements.

Increasing term insurance is a type of life insurance where the death benefit increases over time, often in line with inflation or a predetermined schedule. Although it provides a growing death benefit, it does not allow for the policyholder to access funds during their lifetime, which is a crucial feature of accelerated death benefit riders that makes them a more relevant alternative to life settlements.