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You often spend time thinking and planning what you want to do with your life. You envision what the future might look like and then make plans accordingly. Life-altering injuries or death are never a part of this picture, but the reality is that they occur for thousands of people each year. Since accidents can happen at a moment's notice, it's hard to plan for these. However, you can ensure you are covered financially by learning more about accidental death and dismemberment insurance.
Accidental death and dismemberment insurance is not as commonly known or discussed as other types of insurance, so you're not alone if you're wondering what is accidental death and dismemberment insurance. Often referred to as AD&D insurance, accidental death and dismemberment insurance is a type of insurance that pays out in the event your death is the result of an accident. It's different from a traditional whole or term life insurance policy in that it also provides payment to you in the event an accident leaves you with injuries that permanently impair you.
A number of different types of accidents are covered under AD&D policies, but exactly what's covered may vary slightly from policy to policy. Through the table below you can see what's typically covered and what's not typically covered in AD&D policies. It's important that you consider different policies from different providers to ensure you're getting an AD&D insurance policy that meets your needs. We can help you with exploring your different options when it comes to accidental death and dismemberment insurance.
|Typically Covered in AD&D||Typically NOT Covered in AD&D|
Also covered under AD&D insurance policies is dismemberment. This component of the insurance policy protects you in the event you have life-altering injuries that permanently impair you as a result of an accident. These injuries typically include permanent paralysis, loss of sight, loss of hearing, or dismemberment that results in the loss of one or more body appendages. Your payout from the policy may vary depending on your exact injuries. For example, losing your thumb will only payout a percentage of the policy since full dismemberment or death didn't occur.
You may have heard people referring to different types of AD&D insurance. While they all serve similar purposes, how they are obtained and paid for can vary. These are the common terms used for different accidental death and dismemberment insurance policies, so it's important that you understand exactly what each means.
As part of your accidental death and dismemberment insurance coverage, you will still need to list a life insurance policy beneficiary who will receive the payout of the policy in the event you die and your death is the result of a reason covered under the policy. Your beneficiary should be aware that it may take extra time for the AD&D policy to pay out as it may require an autopsy to be performed. This provides confirmation to the insurance company that your death was the result of an accident and not a condition that is not covered by the policy.
Accidental deaths were the third leading cause of death in 2016 according to the table below from the Center for Disease Control and Prevention. More people die unexpectedly as a result of an accident than they do from stroke, diabetes, Alzheimer's disease, the flu or suicide. You can ensure you and your loved ones are prepared by inquiring today about what is accidental death and dismemberment insurance, or if you would rather find life insurance agents online and talk to an expert as soon as possible, fill out our fast and easy form today.
|Rank||Cause of Death||Number of Deaths|
|3||Accidents (unintentional injuries)||161,374|
|4||Chronic lower respiratory diseases||154,596|
|8||Influenza and pneumonia||51,537|
|9||Nephritis, nephrotic syndrome and nephrosis||50,046|
Disclaimer: TermLifeInsuranceUSA.com is not a licensed insurance agency or broker. The content of this website is for informational and comparative purposes only and is not intended to take the place of professional advice from a licensed insurance agent. TermLifeInsuranceUSA.com recommends that all consumers consult with a licensed insurance agent before purchasing any insurance policy.
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