Life Insurance Facts

In the US, there is one death every 5 minutes, resulting from an accident. Accident Life Insurance is therefore important for you not just for the sake of your loved one, but the payout will cover costs resulting from injury and disability after an accident. In the unfortunate event of death from the accident, the money can go towards things like debts that you may leave behind, and even  funeral expenses.

In the case where the accident does not result in death the payout from this policy which is paid directly to the insured will help take care of hospitalization, medical costs and the time out of employment.

Normally life insurance is made to give security to your loved ones in case you die prematurely But this is a policy that covers you from accidents, disabilities and injury from accidents, and even death from accidents. It covers you 24 hours beyond where medical and disability insurance does. And this plan will payout regardless of other insurance covers.

Accident Life Insurance can be administered through your employer and premiums deducted through the payroll. It is transferable in case you move from one employer to another.

Basically after an accident, the insurer will payout the benefit directly to the insured and because it is independent of any other policies it is very convenient. Usually for this product no medical exams are required and because premiums are worked out through the employer, anyone aged 18- 69 years and is actively at work for at least 20 hours a week qualifies and can take out a policy. Spouses aged 18-69 are also eligible for this plan.

Accident Life Insurance is actually versatile, affordable, flexible and convenient. Ask your insurance broker or financial adviser then consider if it meets your needs.