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One of the most ignored but needed insurance 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. These types of policies will provide 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 and that it will have a limited pay out for injuries such as lose sight. Speech or hearing, you or a family member suffers paralysis or coma because of a result of an accident. For disability this benefit will pay a portion of your income if you cannot work for an extended period due to an illness or injury. These types of policies will offer these extra benefits can be coupled with your employee health insurance coverage or life insurance coverage.
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.