Planning for your loved one’s financial freedom after you’re gone means taking a long-term approach to life insurance. When comparing policies, you want to make sure that you can both afford to pay your premiums and that the payout is significant enough to afford various expenses. However, one add-on you may want to consider is accidental death insurance coverage.
At Findinsurance.com, we make it easy to connect with accidental life insurance companies to get the protection and peace of mind you deserve. In most cases, you can add this coverage to an existing policy.
What Is Accidental Death Insurance Coverage?
While all life insurance policies pay out upon your passing, this type of plan will go into effect if you die unexpectedly. The world can be a dangerous place, depending on where you live, what line of work you’re in, and other factors. Thus, having an extra bit of financial protection can ensure that your family is covered if something happens.
The way it works is that you pick a payout amount and set your monthly premiums. The best part of accidental death insurance coverage is that it can cost as little as $10 a month, making it an affordable addition to your current life insurance policy. Some accidental death insurance companies will allow you to have this coverage by itself, but we would recommend having a more comprehensive plan in place, so you’re always covered.
What Constitutes “Accidental Death?”
When talking with your insurance agent, you will want to discuss the specific elements of your plan. For example, in most cases, death by overdose or drug use is not covered, although some carriers may make an exception under certain circumstances. Nonetheless, the most common situations that would be considered “accidental death” include:
- Vehicular Collision
- Heavy Equipment
The details of these situations may or may not be explicitly explained in your policy. The following circumstances are usually not covered in this type of plan:
- Non-Commercial Radiation
- Drug and Alcohol Use
- War Injury
- Natural Causes
Do I Need Accidental Death Insurance Coverage?
When you buy life insurance online, you may wonder if additional protection is necessary. While these plans can be highly affordable, you may decide that it’s an unnecessary expense. However, consider these factors before making a final decision.
Some people’s jobs are relatively dangerous. Even something as simple as driving a bus can come with heightened risks due to traffic accidents or collisions. Thus, if you know that your job increases your risk of accidental death, it may be a good idea to add a policy to your current life insurance.
Do you walk up and down steps a lot? Do you live in an apartment with a balcony? When you start to think about all of the different places that could be dangerous, it can begin to sound like a good idea to have some additional protection.
With some life insurance policies, your age and overall health can affect your coverage and premiums. With accidental death, however, most companies will approve you automatically. Typically, anyone between the ages of 18 and 69 is pre-approved, and there’s almost never a health evaluation included with this policy. Thus, you can get additional peace of mind without the hassle.
Buy Accidental Death Insurance Online Today
At Findinsurance.com, we want to make sure that you get the protection you need for you and your family. That’s why we make it easy to find accidental death insurance coverage by connecting you with top companies. See what options are out there and get the peace of mind you deserve.