Accidental Death Coverage
There are many different kinds of insurance policies; however, one of the most important to have is accidental death coverage. No one wants to consider their death, however if it were to happen, are your beneficiaries protected? You can get coverage for accidental death with your car insurance, life insurance and a few other methods.
In the event of an accidental death, insurance will pay your family a predetermined amount. There are usually limitations to this, including if the death was as a result of an attempted suicide, drug use or through natural causes. The death must have occurred as a result of a true accident.
Some insurance companies will also offer dismemberment with the accidental death component so that if you were to lose a limb, your sight or other form of dismemberment, you would be covered as well. This is an important factor to consider. Whether it is through a car accident, an accident at work or something at home, losing a limb or your sight is a tragedy that you should be compensated for. Without the dismemberment coverage, though, you wouldn't receive anything.
When you take out a policy, there are a few options that you can choose from. The first is through a group life contract, as offered by your employer. The second is through a voluntary policy by contacting an insurance agent on your own (either through life insurance or car insurance). The final way is through travel insurance, though the accidental death is only covered during the policy time, which usually spans the length of the business trip or vacation.
The most common way to get accidental death coverage is through a voluntary policy. Many employers are not offering life insurance to their employees anymore and travel insurance is only a short-term solution. You can choose to have a life insurance policy cover accidental death. Car insurance will also be an option to get accidental death covered should you want the policy.
Either way, you are paying a premium based upon the accidental death coverage. You will set beneficiaries and they will be the ones to receive the money in the event of your death. The amount that they receive will be based upon the policy that you take out. The more money that you want to pay in a monthly premium will determine the total benefit coverage amount.
Since there are many ways to get accidental death insurance, you will want to shop and compare prices between different companies. You should find out if it is inclusive of dismemberment as well as all of the exclusions to make sure your family is covered in case an accident should take your life.