TAMPA,
Fla., March 28, 2024 /PRNewswire/ -- The life
insurance comparison site QuickQuote.com recently published a
guide to accidental death and dismemberment (AD&D) insurance.
It revealed that some plans cost only $4 a month and provide $100,000 in coverage.
Some AD&D plans cost only $4 a month and provide $100,000 in coverage.
Term life insurance is generally labeled the lowest-cost life
insurance policy, but AD&D costs even less than a term life
insurance policy.
AD&D Coverage for Accidents
According to QuickQuote.com, accidents are the fifth leading
cause of death in the U.S. AD&D insurance will pay the death
benefit if the covered individual dies in or shortly following an
accident.
The types of accidents that most plans cover include the
following:
- Auto collisions
- Drowning
- Exposure to the elements
- Falls
- Fire-related injuries
- Heavy machinery accidents
- Homicide
- Workplace incidents
AD&D coverage will not pay out if the covered individual
dies from natural causes. Natural causes of death include cancer,
heart disease, and other illnesses.
Additional AD&D Benefits
While it's possible to get a life insurance rider that covers
certain disabilities, most life insurance policies will only pay
out after the covered individual dies. AD&D insurance provides
a vital benefit to individuals who lose a limb or suffer
paralysis.
If someone loses their ability to work following an accident
that causes dismemberment, the AD&D benefit can help keep them
financially afloat.
Exclusions and restrictions vary by company, and some may
provide a partial benefit for loss of use of one limb.
AD&D As a Supplemental
Coverage
QuickQuote.com explains that AD&D coverage is easy to get,
often offered by employers, and is one of the cheapest life
insurance policies.
If a person dies of natural causes or another event not covered
by AD&D, the policy will not pay out. Since accidents are the
fifth leading cause of death, other causes of death are more
likely.
Melanie Musson, a nationally
recognized insurance expert with QuickQuote.com, explains,
"Accidental death and dismemberment coverage
is a cost-effective insurance option and should be considered as a
supplement to a term life insurance policy."
To have an adequate life insurance policy that will protect
dependents from financial hardship following an untimely death,
individuals need to have a policy that offers more comprehensive
coverage.
Read QuickQuote.com's entire report here: Accidental Death &
Dismemberment (AD&D) Insurance.
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SOURCE QuickQuote.com