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Among others some of the most sought-after Insurances that employees will provide for their top employees is Accidental Death and Dismemberment Insurance as well as Disability. With the Accidental Death and Dismemberment, it will “pay out” if you die or get seriously injured in an accident. Offering these types of policy’s to an employee can add the extra peace of mind that their family and loved ones will be taken care of if tragedy was to strike.
There is also an added benefit to this type of policy. AD&D will have a limited pay out for injuries such as loss of sight, speech or hearing. AD&D will also have a pay out if your employee suffers paralysis or coma because of a result of an accident. For disability of an employee this benefit will pay a portion of an employee’s income if they cannot work for an extended period due to an illness or injury. Companies that offer these extra benefits coupled with an employee health insurance coverage or life insurance coverage hold a higher employee retention rate.
Some of the added benefits of these types of coverage is:
One of the top reasons people are first attracted to AD&D Coverage is because the premiums are very low compared to most other types of insurance. The second reason people are drawn to it is because you do not have to have a medical exam done to get approved for the policy.
The age range changes with each carrier but the average age is 19 through 70 there are carriers that will decrease the coverage as you age and there are some that will maintain the death benefit full amount until the policy ends or is paid out.
No because accidental policy’s pay out in the event of an accident medical health is not needed in most cases.
That will need to be decided by the owner of the policy. Accidental policies are a great way to add additional coverage that might be needed and will only enhance the existing policy.