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Accidental Death Life Insurance

Transcript

Hello. This is Liran Hirschkorn, from ChooseTerm.com. Today, I want to talk
to you about accidental death benefit life insurance. What exactly is it?
What does it cover, and how do you get a policy?

The first thing is accidental death benefit life insurance would cover you
in case of dying as a result of an accident. Typically, if you died 90 days
from the event, from an accident happening to you, you would be considered
covered: Plane crash, car crash, as a pedestrian getting hit by a car, or
falling off your roof. Anything that was an accident that led to death,
within 90 days, typically, would cover you.

You might be concerned about flying overseas and being on a plane or might
be concerned about a specific event and thinking about this type of
coverage. How do you get this coverage? You can get it in one of two ways.
Typically, as part of a term life policy, or a permanent life insurance
policy, you can get accidental death benefit rider on top of your policy.
What does this mean? If for example, you are getting a $250,000 policy that
would cover you both for accidents and for illness. Typically, a regular
traditional life insurance policy covers you for both accidents and
illnesses. If you had a policy like that but wanted increased coverage for
accidents, you can get an accidental death benefit rider, and oftentimes,
you can get up to double your coverage for accidents. For example, if you
have a $250,000 policy and you had the accidental death benefit rider that
you paid an additional fee for it every single month, an additional
premium, your coverage would be $500,000 total, if you died resulting in an
accident.

The other way to get this type of policy is actually without any medical
exam, and just to get specifically a policy that covers you for accidents.
There are companies out there that specialize specifically in accidental
death benefit, and your policy would only cover you in case of death due to
an accident. These policies are significantly cheaper than traditional
policies because you are limited to coverage only in case of accidents. The
nice thing about them is that if you have been denied for a regular policy,
you can still get an accidental death benefit policy, so that you still
have something in place in case you did die in an accident. They are
cheaper, anybody can get approved, and they are also typically instant-
issue.

Recently, I had a customer, client, that was flying overseas and their wife
was very concerned; what if something happens? What if there is a plane
crash? They wanted to get a policy right away. They would not be able to
get a traditional term life policy that requires a medical right away,
within a matter of a day or two, but the accidental policy they were able
to get the same day that they called me, and I was able to get them their
policy emailed to them and they had it right away. They felt secure knowing
that if something were to happen, they were covered.

Accidental death benefits, individual policies, are nice to have if you
have been declined, if you need coverage right away for flying, if you are
fling, or going overseas and you want to make sure you have something in
place, or if you just want additional coverage for accidents. You do not
really need, or you might already have a traditional regular life insurance
policy, you do not want to go through a medical exam again, you can just
get an accidental death benefit life insurance policy, or again, you can
get this as a rider to a traditional policy.

I hope this was helpful. If you need more information you can visit our
website, ChooseTerm.com. My name is Liran Hirschkorn, and I can answer any
questions you have about life insurance or compare quotes for you. Thank
you.

Author: Liran Hirschkorn

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Liran Hirschkorn

Liran Hirschkorn is the founder of Chooseterm.com. His mission is to help individuals across the country in finding the best rates on life insurance as well as helping individuals with high risk life insurance.

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