Affordable protection. Unexpected death is a reason life insurance can be more affordable than people realize. ADB policies are cheaper than traditional life insurance policies, as you are only covered for one accident.
You can add to your basic term insurance coverage accidental death and/or dismemberment coverage. This coverage can provide protection against unexpected events like loss of sight, hearing, speech, paralysis or severe disability.
AD&D Insurance is one protection that you can use to help protect your family’s financial well-being.
Accidental insurance (also known as accidental death and destruction) pays a benefit when an insured is killed in an accident or is seriously injured, so that they can no longer use their bodily organs. This policy is usually more affordable than other types. It pays only if these types of events occur.
An accidental death benefit policy does not require that you undergo a medical examination. This policy can be a great alternative to other types of insurance if you have specific health conditions.
You desire additional coverage for you family. ADB can offer you much-needed coverage even if your primary policy doesn't cover it. The payout that your loved ones receive may help pay for unexpected expenses such as funeral and living costs. ADB riders are available to be added to existing insurance policies to increase coverage.
Your loved ones will be paid a lump sum amount for any benefit you have chosen. They can use the money to pay for everything they need such as replacing their income or paying their mortgage or other debts.
Typically, accidental death covers exceptional circumstances, such as exposure to the elements, traffic accidents, homicide, falls, drowning, and accidents involving heavy equipment. AD&D insurance is supplemental life insurance and not an acceptable substitute for term life insurance.
Accidental death insurance
While accidents only accounted for 5.4% of deaths in the United States in 2016, they made up 30.2% of deaths for people between the ages of 25 to 44. This is why accidental death insurance typically isn't worth it if you're near retirement age or just need coverage for end-of-life expenses.
When accidental deaths occur, though, typical causes of accidental death or dismemberment claims are motor vehicle accidents, falls, poisoning, drowning, and gunshot injuries. Death by homicide is also considered an accidental death. But not every death resulting from such causes would be considered accidental.