Many people consider life insurance to be essential, but two startling statistic will tell you that Accidental Death and Dismemberment Insurance (AD&D insurance) are a crucial.
1. Accidental Deaths are the 5th Leading Cause of Death in the United States.
2. Over 10 Million Americans are Disabled.
Accidental deaths are number 5 on the list for all age group, but it is the number 1 leading cause of death for people ages 1-42, according to the National Safety Council. Although you might imagine people in dangerous jobs as those most at risk, this is simply not true. It’s not the electricians and heavy-machine operators who bump up these numbers. It’s people at home doing daily activities. Those that top the list of accidental deaths are car accidents, poisoning, falls, fires and choking. Drowning and firearms get an honorable mention as well.
As for those unconcerned about becoming disabled, know that there are over 10 million Americans who receive a disability check each month. However, many find the amount is barely enough to make ends meet. The reasons for their disabilities range drastically and the stories of how they became disabled are just as varied. Although not all people who are disabled have been dismembered, this is still a startling statistic. For many, it was an instant, an accident, that changed their lives forever.
But being prepared is no accident. A little planning goes a long way in caring for your loved ones in the aftermath of an accident. When you choose AD&D Insurance, you will be protecting yourself from the financial repercussions that accompany a range of covered injuries and accidental death. This can include a lump sum payment to your beneficiaries in the case of accidental death; loss of speech, hearing or sight; loss of a limb, hand, foot or thumb and index finger on the same hand; and paralysis.
There are many companies that offer individual AD&D Insurance and employers who offer group plans. The four most common types of group AD&D plans are as follows:
Group Life Supplement
The AD&D benefit is added as part of the group life insurance plan. The benefit amount generally matches the group life benefit.
AD&D is offered as an elective benefit that members of the group plan can choose to participate in or not. Premiums are usually paid separately by in the insured as a payroll deduction.
Travel Accident (Business Trip)
This AD&D benefit is generally sought after, and paid for, by companies who have employees that travel frequently as part of their job duties. It is provided through an employee benefit plan and gives supplement protection for employees while traveling on company business.
Some employers offer group AD&D plans that include coverage for dependents.
Accidental Death and Dismemberment insurance can usually be an add on to any regular life insurance plan for a nominal cost. If you are considering AD&D insurance but do not have a life insurance plan in place, consider getting quotes and asking about adding on AD&D insurance. You’ll likely be shocked at how affordable rates are.
If you already have a policy in place, think of the last time you compared rates. It is generally recommended to shop around about every five years or when you have a life changing event. Some life changing events can include a new job or change in income, getting married or having a child.
It is always recommended to lock in low life insurance rates while you are young and healthy. If you are older and/or have any health ailments, don’t worry. The changing landscape of life insurance is more inclusive than ever before. People can still qualify and obtain affordable rates regardless of age and health history.
To compare live rates or talk to an agent, simply visit our quote page and enter your zip code. You’ll be surprised at how quickly and easily you get lock in life insurance or add on AD&D insurance to your plan. Don’t wait for an accident to happen, prepare for it now.
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