Purchasing Accidental Death Insurance
You don’t want to pay life insurance premiums, but you want your family to be protected financially from that uncanny accident. Accidental death insurance is very cheap because they rarely pay out. But there’s no reason you can’t have "gobs" of near-free accidental death and dismemberment.
Accidental death & dismemberment is for people that want inexpensive low benefit, accidental coverage.
Accidental death & dismemberment is not for people that want more comprehensive coverage in case of any type of misfortune.
Accidental death insurance disadvantages:
- Death from non cancer type illness does not pay
- Impossible to buy except through a group, credit card or credit union
- Narrow benefits
- Few may collect
Accidental death insurance advantages:
- Almost free
- No medical exams
- Guaranteed issue
- Protects from the unexpected
Accidental death & dismemberment savings tips:
- Accept all the free AD&D you’re given
- Keep your ear to the ground for special deals
- Get it as a rider on your other life policies
Summary: Find out the perimeters that the company uses to rule your death accidental and pay out your benefit. Keep in mind if your death is not accidental, your heirs will not get paid.
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