What is Accident Life Insurance?
What is accident life insurance, you ask? Accident life insurance, sometimes called “accidental” life insurance, “accidental death” insurance, or “accidental death and dismemberment” insurance (which is partly also health/disability insurance) can be a rider on your current policy that has special conditions for paying out in the case of a sudden death caused by a totally unforeseeable accident. Typically, this payment is in addition to the face amount of the policy that would be paid out if the insured died of natural causes such as old age or an illness contracted after the policy was in force. This additional payment is typically 1.5x or 2x the death benefit on the main policy.
The insurance industry defines accidental death as “any death strictly due to accident.” So, deaths due to war, deaths form illegal activities like dealing drugs and getting shot to death, or deaths that result from personal pursuits considered inherently dangerous like shark cage diving will not be covered. Airplane crashes, car accidents, and these days maybe even terrorist attacks would be covered.
Usually this rider also runs out after a certain age, typically age 70. However, often these riders will pay out if the insured dies for some time after the accident occurs–typically one year–as long as it can be proved that the death was directly instigated by the accident.
But accident life insurance can also be purchased on a very temporary basis if you’re going on a trip. Especially with different vacation packages, you can find accident life insurance that you can buy as part of the entire price. You might be going scuba diving; you might be going on a ski trip; you might be going on a trans-oceanic flight or cruise; you might decide that you’d love to scope out wolves in Saskatchewan province; you might even be going on a two-week tour by car. If you haven’t already got a life insurance policy with a rider, you can buy temporary accident insurance to cover your risks (and you might wish to purchase the temporary insurance anyway).
Sometimes these policies also cover you financially in the event of the accident-caused death of your spouse or a child on that same trip with you.
It can be wise to check into accident life insurance if you are going on a trip like those mentioned. But, if you already have a good amount of life insurance, you are likely not to need it. And as far as the accidental death rider–it doesn’t serve any practical purpose, since life insurance is already about covering untimely deaths. Most policies already will pay out for accidental death, just not the extra amount. Usually, accidental death riders are only psychological comfort. They are very inexpensive because they don’t usually pay out, but you’re still paying extra money.
Watch the video related to Death insurance
me.’ [They] didn’t want to set up cots or anything.” LaBruzzo spoke for people who are tired of draining productive members of society with tax money in order to support people who chronically need the government to babysit them. As vice chairman of the Welfare Committee, he was in a unique leadership position to change welfare policy. LaBruzzo offered some controversial solutions, such as offering $1000 for recipients to be sterilized, and rewarding recipients without children. Fully …
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Posted by American Car Insurance on September 6th, 2009 filed in Death Insurance | 18 Comments »
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18 Responses to “What is Accident Life Insurance?”
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September 6th, 2009 at 11:13 am
I have to make a confession My girlfriends mom is a single mom of 5 kids from 3 different Fathers who has been on welfare foodstamps & medical since foreever, she is expecting another child yet from a different man, Now it gets to me cause I work hard cannot get afforable healthinsurance & in tuition debt and people like her r so useless who r not contributing to society in anyway my taxes pay her IT GETS ME MAD EVERYTHING IS HANDED TO HER she does nothing to improve her life & sheHITS herkids
September 6th, 2009 at 11:14 am
that sounds more like nazi eugenics to me. lubruzzo is simply proposing a way to stop this engine of broken society.
September 6th, 2009 at 10:06 am
Locate the policy and read through it. If you believe that he was tricked you can consult with an attorney. This might be difficult to prove without witnesses to his insurance purchase other than the agent.
September 6th, 2009 at 10:34 am
http://www.globeontheweb.com/
There's the website.
September 6th, 2009 at 5:30 pm
True words of a person with a spinal chord, but no brain.
September 7th, 2009 at 1:21 am
Create decent jobs and better education, simplistic notions from simple brains, capitalists deciding who has kids, decent housing, good prospects etc.
September 6th, 2009 at 7:59 pm
Where are you from. There are different regulations depending on where you are and what kind of insurance you will se. For Life and Accident and Sickness, in Alberta Canada, you have to write a pre-exam, pass that, then write the provincial exam and pass that. Each test is about 4 hours long. Once you have passed, you need to get a company that is licensed to sell in Alberta and have them sign for you as an agent. Once the paperwork is submitted, fees paid and approved you get your license. Then you have to get continuing education credits every year to keep your license.
September 7th, 2009 at 2:09 am
It was not a good idea to bring d-flav from Mali to the southeastern area of the U.S. in order to work the cotton fields. The South was the first to import non-Americans to do jobs they (Southerners) should have been doing themselves. It was very expensive to buy d-flav, ship him over and then provide him with all expenses paid for life. And, it was, in fact, wrong a priori.
September 6th, 2009 at 10:34 pm
I checked A.M. Best, a company that specializes in rating insurance company financial health, and they have no listing by that name. It is possible that this is a general agent and not an insurance company.
I would call the Kentucky Department of Insurance for more information (800) 595-6053
September 7th, 2009 at 3:38 pm
lubruzzo for president!!!!!!!!!……end this cycle thats against the principles of evolution itself!
September 8th, 2009 at 1:56 am
America needs more people like him instead of the present Socialist alternative
September 8th, 2009 at 2:46 pm
A friend trained there and is still friends with the nice people she met at training. She did not quit. She likes it. It is a sales job so the income fluctuates..
September 8th, 2009 at 8:51 pm
Yes we need to help end unemployment as well as teenage pregnancy but trying to use such people who are under such unfortunate circumstances as a scape goat and even to go as far as to have them “Fixed” is in every way no different than what the Nazis did.
I think we need to seriously consider Gender and Ethnic separation in our Schools while at the same time not teaching Sex ed in schools because it encourages further sexual curiosity and eventually to the action itself…
September 8th, 2009 at 10:52 pm
He could not have taken a policy out on you without your knowledge. You had to sign the application and been processed, if he is beneficiary and you as policy owner. If you want, trash the original and get a family plan that covers the main breadwinner, that person's spouse and all children both present and future, ALL on one policy. Think more along the lines of term insurance and set up a retirement account.
The policy will supercede anything you do including the post-nup.
September 9th, 2009 at 3:10 am
Most of the long-term agents I've known in the busines did NOT pass it the first time. What really matters is, can you sell? ANYONE can get a license, if they work at it enough, but NOT everyone can sell.
September 9th, 2009 at 4:40 am
If you are looking for cheap you found the company cheap and crappy. It is like a skydiver purchasing and having his parachute packed by a wal mart greeter. Might be ok for a short time but is not a way you want to protect your family or to keep testing your luck. Your family not worth an extra $10 for a great company?
September 9th, 2009 at 4:08 pm
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September 9th, 2009 at 1:23 pm
They are probably offering you a free $1000 accidental death and dismemberment insurance policy.
They do this to get you in the door and then try to upsell you to a higher amount of coverage.
If its free just take the coverage and leave it at that.
Make sure you get the paperwork.
And know that it will ONLY pay if you accidentally die or lose a limb, which will likely never happen to you.