How important are you to your loved ones? To supplement your existing life insurance policy, you might need an additional layer of coverage for just-in-case. Perhaps you are looking for a fast approval process that does not require any medical exams or health questions. You may also want to provide for your heirs in case of an unfortunate accident.
Unexpected events can strike anyone. ADB policies can help you and your family be financially prepared for unexpected expenses.
Traumatic injuries can happen without anyone knowing. They can cause grief and trauma, as well as loss of income, hospitalizations, or other unexpected expenses.
Accidental Death Insurance, also known as accidental dismemberment or accidental death, provides a benefit in the event that the insured is killed in an accident or becomes severely disabled, such as losing use of body parts. This policy is usually less expensive than most other types of life insurance but only pays when these events happen.
Accidental insurance covers your loved ones financially in the event you are killed in an accident. It's available to everyone aged 18-70. This insurance is guaranteed protection so you can't be turned down if age is a factor.
In most cases, accidental death policies restrict high-risk activity, such as skydiving or diving, and don't cover injuries that occur during these activities. However, the list is subject to change by the insurer so most people will find a company that doesn’t exclude their high risk hobbies. Many insurers will pay higher death benefits if you are a fare paying passenger who is injured in an "common carriers" accident. Common carriers could include all forms of licensed transportation, including subways.
AD&D coverage covers death and serious injuries that can result from dismemberment, hearing loss, or other causes.
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.