The accidental death and dismemberment policy in insurance is actually one that offers a lot of benefits for people in the event that they are ever involved in an accident that leads to their death. The insurance is also less expensive and in a limited form. Accidents can happen at any time and any place, and while you may be fortunate enough to not die, you could suffer a dismemberment.
This is when the accidental death and dismemberment insurance policy becomes so beneficial, since it ensures that you or your family are compensated when you are involved in an accident that leads to dismemberment or death.
Accidental Death
In the event that an accident leads to your death, the insurance will pay all the benefits along with the life insurance, which will be set up to a certain limit. The covered accidents for accidental death insurance include the following:
- Drowning
- Heavy equipment accidents
- Homicide
- Exposure
- Traffic accidents
It is important to acquire accidental death insurance, since it is the 5th leading cause of death in the United States. The insurance is not an investment but rather protection against the unfortunate and untimely death of the individual.
Common Exclusions
Every single insurance policy has got a certain list of exclusions that void the accidental death benefit to the insured. The common exclusions for accidental death insurance include the following:
- Suicide
- War injury
- Natural causes
- Death by illness
- Overdose on drugs or alcohol or toxic or poisonous substances
Most insurance providers will offer you with certain conditions, where they will still provide you with the accidental death benefits, but they will be offered with higher premiums. This is also the reason that the process of claiming accidental death benefit can be extremely lengthy. It is because the deceased will have to undergo an official autopsy, and the accident may have to be invested by the authorities before the claim can be approved.
Dismemberment
The accidental death and dismemberment insurance policy will pay the insured benefits for any loss of limbs, sight, toes, fingers and permanent paralysis. The type of injuries that are covered and the overall amount to be paid will basically vary from insurance providers, which is why it is best to first ask about those details.
Currently, there are four main types of accidental death and dismemberment insurance in the United States, which are as follows:
- Group Life Supplement
- Voluntary
- Travel Accident (Business Trip)
- Dependents
Dealing with an accident that leads to death or dismemberment can be one of the hardest things to go through in life, but with the accidental death and dismemberment insurance policy offered by Benefits Age, you will gain some respite and compensation for your loss.
