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Accidental death life insurance is a common form of insurance but many people purchase it not really understanding what they are getting. It is important to understand what the coverage means, the other options available, and how to get accidental life insurance quotes.
There is a lot confusion surrounding these accidental death policies, and part of that is because they also go by “Accidental Death and Dismemberment” insurance. Both plans are the same thing and will give insurance payouts for specific situations. This article is going to clear up some of the questions that you may have about accidental death life insurance coverage and help you decide if these plans would work for you.
Life insurance is one of the best things that you can ever buy for the security of your family. You don’t want to think about anything bad happening to you, but you can’t predict the future, which means you should always plan for the worst. If something tragic were to happen to you, and you didn’t have the proper coverage, your family would struggle to pay for all of the debts and expenses left to them.
The most common misconception is that accidental life insurance will cover just about anything except for suicide, because who gets killed on purpose? The truth is that accidental death life insurance only covers people who are killed in an accident. This would include a car accident, plane crash, slipping and hitting your head, etc. It does not cover any type of death due to illness. This is the sticking point with this life insurance, as you age, your chances of dying from an accident decrease and the chances of dying from illness increase. So the insurance policy actually becomes less beneficial over time.
When you’re looking to get an accidental death life insurance plan, there are some key advantages that can make them a good choice for coverage.
One of the most notable advantages of these policies is that it’s going to be more affordable than just about any other option for life insurance protection, but that’s because it only covers specific circumstances, which are less likely to happen. If you’re only looking for the lowest premiums, then accidental death can be a great choice.
Another advantage is that companies will sell a standalone accidental death life insurance plan with a medical exam or as a guaranteed issue plan. These policies won’t pay if you die from an illness, which means your health isn’t going to factor into the plan. Not only will you be able to avoid the medical exam, but you can be approved for one of these plans in a matter of hours.
Accidental death life insurance plans are a great way to ADD ON to the life insurance coverage that you already have, but they shouldn’t be your only source of insurance protection. These plans are a great way to get some supplemental coverage if you don’t think your primary plan is going you the insurance that your family will need. Because there are dozens and dozens of circumstances that are not covered under an accidental death plan, you should never use one of these policies as your only source of life insurance.
The best alternative to Accidental death life insurance is term life insurance. The reason people get accidental life insurance is the price. While term life insurance is more expensive it is not in and of itself a highly expensive form of life insurance. People who are in good health can get term life insurance for a very low price and lock that price in for twenty to thirty years. Term life insurance also covers all forms of death not just accidents. So if whether you get cancer or Ebola you are covered. There are no worries about how you are going to die because no matter what you are covered. This makes term a better alternative for most people and why we at TermLife360.com recommend term life insurance to pretty much everyone looking at accidental life insurance quotes.
Term insurance is not your only possible alternative, but it does tend to be one of the best. Just because it’s one of the most popular options, doesn’t mean that it’s going to be the best life insurance plan for you. It’s vital that you understand all of the different options. Another popular option is a whole life insurance plan.
Unlike a term plan, a whole life policy is a permanent form of coverage, which means that it’s never going to expire. As long as you continue to pay the monthly premiums for the plan, you’ll never lose life insurance protection. If you don’t want to worry about having to reapply for insurance protection in the future, then whole life policies are going to be the best place to look.
Because whole life insurance plans are never going to expire, they are going to be more expensive than a term insurance policy. If you want the cheapest life insurance protection, then a term plan is going to be the best option, but there are other advantages of whole life policies.
One unique benefit is that whole life plans build cash value. The longer that you pay the premiums for the plan, the more value that’s inside of the policy. You can use that value to pay the premiums for the policy or to secure a loan if you need money in the future. Once again, because of the unique advantages, they are going to be more expensive, but you can’t put a price tag on the peace of mind that life insurance will give you.
One of the most common reasons that people don’t buy life insurance is because they assume that it’s going to be too expensive. In most cases, applicants are stunned to see how cheap life insurance coverage can be. There are several ways that you can secure better life insurance premiums.
If you want to say money, the best thing that you can do is quit smoking. Those cigarettes are not only bad for your health, but they are also bad for your bank account as well. If you’re listed as a smoker when you’re shopping for life insurance, then you should expect to pay much higher premiums for your insurance coverage. In fact, smokers are going to pay at least twice as much for their insurance plan versus what a non-smoker is going to pay for the same sized plan. If you want to get the cheapest life insurance, regardless of which type of plan that you choose, you’ll need to cut the bad habit once and for all.
Another way that you can save money is by improving your overall health. If you apply for a term insurance or whole life plan, you’ll be required to take a medical exam before they approve your application. The results of the exam are going to play a major role in how much you pay every month. If you want to get lower rates, then you need to be in better shape.
The best way to ensure that you’re getting the best rates is to compare dozens and dozens of plans from different companies before you decide which one is going to work best for you and your family. Every company is different, which means that you’ll get drastically varying rates depending on which company that you get the quote from.
There are thousands and thousands of different insurance companies on the market, which means that you could spend weeks and weeks calling companies to get quotes, or you can let us do all of that hard work for you. We’re a group of independent insurance agents, which means we work with some of the best companies on the market. We can bring all of the best insurance premiums directly to you, no hassle.
To get quotes for any type of life insurance you can fill out the form on the side of this page to get started. Whether you are looking at accidental death life insurance or term life insurance our team at TermLife360.com is here to help you make the right decision for your needs. We are an independent agency so we do not work with any one insurance company. This means that instead of trying to sell you on a company we are working for you to find the best company and policy for your needs. It’s the difference between talking to a sales person and an advocate. We go out shop all the best rated life insurance companies in your area and bring back a list of the best term life insurance or accidental life insurance quotes in your area based off of your profile. That way you can get the absolute best rates for your needs. If you have any questions or if there is any way we can serve you through this process please let us know.