Accidental death insurance pays your beneficiaries in the event your death is caused by accident. This type of insurance coverage is also referred to as accidental death and dismemberment insurance, or AD&D, and is an alternative to permanent and term life insurance options. Those in Las Vegas, NV, debating between purchasing accidental death insurance or a typical life insurance policy can call our agents at Red Rock Insurance for more details.
Accidental Death Insurance
Most insurance companies offer accidental death insurance plans to cover those who may have died due to an accident. The beneficiaries are paid a lump sum payout when the death of their loved one is caused by accident. The payout is called a death benefit, and natural causes or illness-related deaths are not covered under this type of insurance plan.
Do I Need Accidental Death Insurance?
The decision to purchase accidental death insurance is completely up to you. The younger you are, you may take this plan into greater consideration because you may be at risk of becoming injured or killed in a fire, work accident, or auto accident. However, anyone at any age may want to consider accidental death insurance coverage for the same reasons.
Disadvantage to Accidental Death Insurance
The Centers for Disease Control reports only 5.4 percent of deaths are ruled an accident. Because accidents are rare, the biggest disadvantage is you may never need this form of insurance coverage.
Benefit to Accidental Death Insurance
The biggest benefit to purchasing an accidental death insurance plan is affordability. Being affordable means that even if you never need the plan, these plans do not cost a lot of money.
Those living in Las Vegas, NV may want to consider weighing their needs and determine if they need to purchase accidental death insurance. Then, if you still have questions, call our agents at Red Rock Insurance to discuss your options.
