Accidents are a part of life. Even if we lead the most careful life, we still cant escape the accident that is destined to come our way. All we can do is to take the pre-accident precautionary measures that can male our suffering less painful. Accidental death and dismemberment insurance is one such precautionary measure that helps us cope with our sudden accident dismemberment in a more sensible way. If, God forbid, any person possessing the life insurance plan dies in the accident then his family wont have to pass through the sudden financial jerk.
What is an accidental death and dismemberment insurance?
By the name of this insurance plan, anybody can deduce that it is a type of plan that provides coverage in case of accidental death or if the person faces dismemberment. The accidental death and dismemberment insurance provides you coverage in case you have lost life during an accident or if you have survived but lost any of your body part during an accident. You must keep in mind that this insurance plans only covers the death that has occurred due to an accident. If a person, insured under this insurance plan dies a natural death then he will not be compensated according to this insurance plan.
Most of the companies offer AD&D insurance in addition to the life insurance coverage. The greatest thing about this type of insurance plan is that it doesnt require any type of medical exam. As the cause of death covered in this insurance plan is un-natural so your biological health does not hold any importance.
Types of AD&D insurance plans:
There are three different types of AD&D insurance plans are offered by various insurance companies including:
- Accidental death and dismemberment
- Accidental death and dismemberment plus
- Accidental death and dismemberment advantage
This type of insurance plan is not so expensive and you can get this plan for the entire family. If you currently possess a life insurance plan then you can enjoy the benefits of this insurance plan in addition to your life insurance plan by consulting your company or insurance agent.
Coverage options:
Most of the people also like their family members or children to be covered under this insurance plan. If you are getting AD&D insurance plan and you also want your family to be covered in this insurance plan then you need to discuss this requirement with your insurance company. Most of the insurance companies do offer the combine coverage of the entire family by settling a high amount of premium; there is no need to fear as that amount is still affordable as it is much lesser than the premiums of other insurance plans. Kids under the age of 21 can be covered in this insurance plan.
Risks covered:
The insurance company would make the compensatory payment under the circumstances that the insured person died in an accident, lost a limb or suffered a coma due to the accident. Next you must keep in mind that if the insured person has died due to his travel on air plane, ship, or any other sort of public conveyance such as a ship then he would also be provided compensation along with additional benefits.