Do You Need Accidental Death Insurance?

What is accidental death insurance?

The accidental death of a loved one is, of course, devastating. Sadly, accidental death often comes with sudden financial stressors — hospital bills, legal fees and funeral expenses — all while the survivors struggle with grief and family considerations. This is why accidental death insurance can be helpful. So the answer, at least in part, to the question “Why do you need accidental death insurance?” is: Accidental death insurance helps replace the loss of income and provide financial support for your family if you die in an accident covered by your policy.

How accidental death insurance works

Accidental death insurance provides broad coverage for a relatively low cost. It covers accidental death sustained from any covered injury, work-related or non-work-related.

Accidental death insurance is not the same as traditional life insurance, but it can be used as a supplement to traditional life insurance. As the name implies, it is specifically designed to pay benefits only for unanticipated death from covered accidents. Accidental death insurance is also a way for people who don’t qualify for traditional life insurance to help protect their family’s future in the case of their accidental death. Unlike traditional life insurance, you can’t be turned down for accidental death insurance due to health or occupation reasons, as long as you qualify based on your current age. Typically, you can purchase an accidental death insurance policy until age 70, while coverage is guaranteed (if premiums are paid) until age 80.

Is accidental death insurance right for you?

Accidental death insurance is particularly suited for you if:

  • You want or need to help supplement your traditional life insurance coverage
  • You want to provide extra help and protection to your family should you die suddenly from an accident
  • You want to provide some financial protection for your family, even if you don’t qualify for other forms of insurance
  • You want to give your family some peace of mind, but don’t want to go through a medical exam