Accidental Death Insurance
When unexpected life circumstances happen, it is important to know that you have all the protection you need. Each year thousands of Americans are left without proper financial means due to lack of insurance. This can all be fixed with having multiple insurance products. In the event that you are ever hurt or injured, accidental death insurance can protect you financially.
There are many types of life protection available for on the job injury. Accidental death insurance is one of the most common insurance products. In the event of an accidental death, bills and debt can mount up. If you do not have whole life coverage, your family could end up in a financial and debt crisis. Many Americans sign up for Accidental Death insurance so their expenses are covered. Accidental Death insurance is a policy wherein the company pays benefits to beneficiaries to your loved ones in the event of accidental death. This type of life insurance is limited and usually less expensive.
The types of accidents that are covered under this policy are:
- Traffic accidents
- Slips and falls
- Exposure to chemicals
- accident from heavy equipment
There are some things that accidental death insurance does not cover. Some of these are, but not limited to:
- drunk driving
- car racing
- drug overdose
- physical illness
- death from surgery
You can purchase this insurance in two ways. The first way is as an individual policy. This will cover you in the event you die from an unexpected accident. The next way is to buy accidental death insurance as part of your life insurance policy. Having multiple policies will help your family financially.
Accidental death insurance will only pay benefits if you die an accidental death or lose a body part that is within the terms and conditions of the policy. Your death must be a direct result of an injury during the accident. If you meet the criteria, the insurance company may pay in full amount. If you lose a limb you may be able to receive compensation for dismemberment. This type of injury would have a monthly payout.
It is better to purchase this type of life protection that is package with other life insurance products. Some companies might pay for accidents while doing activities such as hiking. It is also important to be aware of the policy exclusions. If you have questions regarding accidental death insurance, let Blue Sky Coverage help you find the best policy for you. Call us today to get a quote for whole life coverage.