Accidental Death Insurance

Accidental death insurance is one of the least expensive life insurance options that exist. It provides you protection and a high payout for death that can occur as a result of non-health-related causes. It is a perfect package for everyone, and it gives peace of mind especially at the point that is most needed.

How it Works?

The accidental death life insurance is a very easy and straightforward insurance policy. Basically, this insurance covers your death when it occurs as a result of an accident.

Statistics show that a huge number of deaths occurring annually are accidental, therefore, any death that is not from natural causes, including diseases, usually falls into this category. Examples of accidental deaths include car accidents, plane crashes, etc. All these deaths, therefore, can be insurable under the accidental death insurance policy.

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However, it must be strongly noted that suicide is not covered in the policy.

If you have been looking for an inexpensive life insurance, the accidental death coverage is the way to go, it covers the limited risk of death resulting from an accident, and also eliminates the need for rigorous health questions or exams, thus making it one of the top choices for those who want to be covered at the lowest possible cost.

Benefits from the accidental death policy are treated the same as any life insurance policy payout and are not normally taxed as income which makes the only difference between an accidental death policy and that of a standard life insurance policy the nature of the insured’s death.

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Who can Benefit from Accidental Death Insurance?

The accidental death insurance policy works well for everyone, and even if you intend on purchasing a life insurance policy, it can be added for you as a rider. Since accidents can occur anytime, it makes the accidental death insurance coverage suitable for every person from all walks of life.

A look into the various age categories is given below

18-25: The risk of death for this category is greater for being accidental than natural. Though individuals in this age category are less likely to have dependents, their death can yet have financial impacts that are significant. Thus, an accidental death insurance can provide an effective means of providing support for covering final expenses.

25-35: For individuals in this category, they are most often in the beginning stages of their careers and families, thus, an accidental death policy can provide financial protection for their dependents in case of an unexpected circumstance of an accident leading to death.

35-55: If you are perhaps in this age category, making an accidental death insurance policy may be a great choice for you, most especially if you frequently travel or you are involved in high-risk occupations. In case you have another life insurance package, this option may be a great add-on for you and a good way to invest your money to safeguard the future.

56-70: It is no longer rare these days to find individuals that are well above the age of 55 still actively working, hence, susceptible to accidents at work or any other occurrence similar to those covered under the accidental death insurance. Therefore, this option can be advantageous for seniors also. Typically, accidental death insurance policy ceases when an insured individual reaches the age of 70.