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What is Accidental Death Insurance and Should You Have Some?

Written By Doug Mitchell

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA.  Doug has spent close to 30 years in the insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health.  Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

Holly Mitchell  &

Holly Mitchell’s background in life insurance insurance goes back to 1985 when she worked for her father who was a New York Life agent. Holly has a marketing degree from Auburn University and has had a life insurance license since 2008. In addition to advising life insurance for customers all around the country, Holly is our website fact checker.

Rob Pinner   &

Rob Pinner is the founder and CEO of Pinner Financial Services servicing all 50 states. Rob started his insurance career in 2002.

Louis LaBash

Results-driven and innovative life insurance professional with 30 plus years of life insurance industry sales and marketing experience. Recognized as a pioneer in the field, leveraging phone and internet channels to exceed personal sales of over $100 million during the first decade of the 21st century. Creator of a highly effective intuitive IUL life insurance sales software that facilitated the sale of millions of dollars of indexed universal policies by numerous life insurance agents. Proven track record as a Managing General Agent (MGA), Life Agent, IUL Life Insurance Sales Software developer, and leading-edge creator of insurance marketing tools, educational content, and delivery systems.

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Fatal accidents occur so often that insurance companies now offer accidental death benefit life insurance riders and policies.

What are accidental death benefit riders? What are accidental death benefit policies? It is very important to know the difference. Read on to find out.

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If you have an accidental death benefit, it means that you are covered if you die due to an accident. For instance, if you were to die in a car accident or a plane crash, that sort of thing would be considered to be an accident.

Or, if you were walking across a street and were hit by a bus, or if you suddenly fell off of a ladder at work and subsequently died. Those are examples of situations that would be considered to be an accidental death.

The terms of the accidental death benefit tend to vary from company to company. However, usually, if your death were to occur within 90 days within an accident, the insurance claim would get paid to the person that you designate to be the beneficiary of your policy.

Accidental Death Rider Versus Policies

Perhaps you already have a traditional life insurance policy. If so, you are covered whether you die due to accidental causes or die due to non-accidental causes.

Granted, if you have a traditional life insurance policy, you could choose to get an accidental death benefit rider. This would double the amount of coverage in the event your death occurred due to accidental causes (up to an additional $250,000 of coverage).

For instance, say you have a traditional life insurance policy that includes death benefits of $250,000. The benefit amount would double to $500,000 if you had an accidental death benefit rider on your traditional life insurance policy.

Of course, you could also buy a life insurance policy that solely has accidental death benefits. In that case, the policy would only provide coverage in the event that you died due to accidental causes.

Why Do You Need a Policy with an Accidental Death Benefit?

Accident at work on a construction site

There are some reasons why you should consider purchasing an accidental death benefit policy.

Inability to Get a Traditional Life Insurance Policy

If you attempted to get traditional life insurance and were rejected, you could nonetheless qualify for an accidental life insurance policy. Usually, you’re instantly issued an accidental death benefit policy.

This means that there are no health-related questions; you will be able to get the policy without delay.

The Need For Immediate Coverage

Not long ago, I received a telephone call from a woman whose spouse was going to be traveling by plane on a business trip. And she was worried about what might happen if the plane were to crash.

Instead of purchasing traditional life insurance, which would take at least one month to get, this couple instead chose to purchase an accidental death benefit policy. They obtained it within 15 minutes while on the telephone.

You may already have enough life insurance but considering having additional coverage. An accidental policy is an inexpensive way to add additional coverage without breaking the bank.

Cost of Accidental Death Policies Is Lower

Accidental death policies cost less than traditional life insurance policies. This is because traditional policies will cover you for death due to any reason. Whereas accidental policies only provide coverage if you die specifically due to accidental causes. Learn more about the different types of insurance.

At BestLifeQuote, we will listen to what you have to say. We will answer any questions you have, and assess your unique circumstances, and we will help you to find the best life insurance policy for your own particular needs.

If you would like to get more information, you can compare quotes at the top of this page or call us at 800-712-8519.

Doug Mitchell, CLU

Doug Mitchell, CLU

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA. Doug has spent close to 30 years in the life insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health. Some other notable items about Doug: Top of the Table Million Dollar Round Table member (MDRT). (MDRT is a global, independent association of the world’s leading life insurance advisors) | Premier Partner with Lincoln Financial and Cabinet Member | Served two years as President of the Auburn/Opelika Association of Financial Advisors | Life Millionaire status at Horace Mann Insurance Company and was awarded the Life Agent of the Year Award | New York Life, Executive Council Member | Currently serves as President of Ogletree Financial, a life insurance General Agency. | Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

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