Accidental Death Insurance is Not Just for Travel
For years AD&D insurance was what you bought at an airport kiosk before you boarded your flight. Though accidental death and dismemberment insurance is not a life insurance policy, it generally requires no physical, is sold to anyone from 18-80 regardless of health or occupation and can provide funds for final expenses and to help a family dealing with the loss of a wage earner.
AD&D Insurance Coverage
AD&D insurance covers accidents, drowning, fatal injuries at work, poisoning, death as a result from a fire and additional covered accidents as specified in the policy. For individuals whose life is lost while traveling on a bus, train, airplane or taxi some policies triple the payout. The dismemberment portion of the policy can offer benefits for the loss of a limb, eyesight, hearing or paralysis caused by a covered accident.
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Who Needs Accidental Death Coverage?
While we are all subject to the possibility of an accident in our lives there are those for whom an accidental death policy of this type may be a wise decision. There are certain occupations which are inherently more dangerous than others, think firefighters or certain types of construction work. People with occupations such as taxi drivers, pilots, train operators or ferry conductors have a higher chance of getting into fatal accidents. Although AD&D is not technically a life insurance policy, it does insure people who have a higher risk to exposure where life insurance is not an option.
There are a number of types and means by which individuals may obtain an AD&D policy. Sometimes it is offered with a life insurance policy by an employer. Sometimes it is available as a separate policy which an employee may purchase and often as coverage while an employee is traveling for the company. ConsumerCoverage can help you to find an insurance carrier that specializes in AD&D insurance.
Accidental death accounts for roughly 2% of all fatalities worldwide. However, in the age group 25-44 it is nearly 30%. And though not all policies are written this way, several of them pay benefits for loss of sight, hearing, burns or mobility as well as loss of limbs or portions of limbs. Each insurer’s policies are different so it is important when getting an accidental death insurance quote to compare policies carefully.
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An AD&D Insurance Coverage Scenario
Louise has a life insurance policy through her work to which she has added accidental death coverage. She has a $100,000 life policy with a $500,000 accidental death and dismemberment insurance policy as a rider. While on her way home from work she is involved in an auto accident that takes her life. The beneficiaries of Louise’s policy would receive both the $100,000 life insurance coverage and the $500,000 AD&D insurance benefit.
Accidental death insurance coverage will not cover the following:
A suicide, drug overdose, risky hobbies like skydiving, auto racing, acts of war or self inflicted injuries. As with any insurance policy, it is wise to be aware of what the policy covers and what it does not and you can read up on what is not covered in the Exclusions section of your policy.
Accidental death insurance coverage is typically less expensive than life insurance
It is not a replacement for life insurance but for those whose health or occupation would prevent them from obtaining a life insurance policy it does afford benefits that can help a family in the event of the policy holder’s death.
Life insurance covers your entire life!
Life Insurance covers your life and provides a death benefit for most causes except suicide whereas an accidental death insurance policy will only pay for a covered accident and not for a death caused by illness. In general, AD&D insurance cannot be denied for individuals who meet the age requirements regardless of their health condition.
At ConsumerCoverage, your trusted internet site for all types of insurance whether for home, life, health or vehicle, we have AD&D insurers who will provide you with an accidental death insurance quote online. Turn to us for all your insurance needs. Period.