All About Accidental Life Insurance: October 2009

Sunday, October 18, 2009

Update Oct.18, 2009 All About Accidental Life Insurance By Insurance Experts

Accident life insurance also known as "accidental death" insurance, or "accidental death and dismemberment" insurance (which is partly also health/disability insurance), it is types of life and health insurances coverage in case of the insured suddenly death or injure caused by accident.

Life Insurance - Regular Vs Accident Insurance
By Amy Nutt

It can get pretty confusing when you're choosing a life insurance policy. There are so many options and extras and if you don't understand which to choose, it can be very confusing to select a policy. One of the most common questions that people come up with is simply to do with the differences between regular and accident life insurance, particularly because they seem to be the same at first glance. However, there are some differences that you should know about before you choose a life insurance policy.

Regular Life Insurance
What exactly is covered by regular life insurance varies by policy, so you will want to really check this out when you are talking to the insurance company. There are two main types of policies here, permanent and term. Term insurance will only cover you for a specific time period, usually a year to five years, after which time you will need to renew your insurance. Permanent gives you life-long coverage.

Both types usually cover both death and some medical costs if you are injured or ill. Again, it's important to read the fine print on this. You will need to choose someone to receive the payout should you die while your life insurance is active. Regular life insurance covers a variety of ways that you could pass, including sickness. However, there will be certain options that are ruled out. For example, most life insurance companies will not pay out if a death was ruled a suicide. Most regular policies will exclude certain accidental deaths, as well, which is why you will probably want to look into adding an accidental life insurance policy to your regular one.

Accidental Life Insurance
A lot of accidents happen in our lives and on occasion they can cost you a lot of money. Accident insurance usually covers things like medical costs, hospital stays and will reimburse you for lost limbs, eyesight, etc. depending on the policy. Also, if you were to die due to an accident, this type of policy would give your beneficiary a payout. Not all regular insurance does this for accidents.

In cases where an accident leads to death at a later date, such as a car accident where the victim is in a coma for several weeks or months before dying, the policy will have a specific time limit. Many give you 3 months, so if the victim dies four months after the accident, due to related injuries, no payout will be given.

Why Choose Accident Insurance
For most people, adding accident insurance to their regular policy just makes sense. It means you are covered no matter what happens and since a large number of deaths and major injuries are caused by accident and not necessarily disease, it makes sense to insure yourself. Having that safety net can be invaluable should something happen and you lose your sight due to an accident, something that regular life insurance wouldn't touch, but accident insurance would offer a payout for.

Insurance is a big deal. You want to be sure you get the right coverage and that you aren't going to regret not opting for the extras later on. Do your research, read the contracts completely before signing and talk to the insurance broker about your options. Make sure you understand everything that is covered and what is not by your specific policy. Sometimes you can customize your policy to create the best possible insurance for you personally, so talk to your agent about this possibility. Life insurance is important and needs to be taken seriously.

Full service insurance brokerage offers corporate and personal solutions. When looking for the best protection and information on Home Insurance Ajax, Car insurance, Health insurance, Commercial Insurance, Life Insurance options.

Article Source: http://EzineArticles.com/?expert=Amy_Nutt

Affordable Life Insurance - Buy it When You Are Young
By Joan Peterson

Life insurance is something that everyone needs to consider very seriously when just emerging into early adult hood. When a person is 18 or 22, it is unlikely that they will give much thought to insuring one's death. But for everyone that enters into early adulthood, this type of insurance should be a priority. You may not have a spouse or children when you first enter into adulthood, but the beneficiary of your insurance could go to anyone you designate, including a friend or family member. Once you start a family or get married, you can change the beneficiary to reflect such a change.

The main reason it is so important to buy this type of insurance early in life is that at any age, an illness or injury could strike you down. Once you have a pre-existing condition, life insurance becomes extremely difficult, if not impossible to get. Even if you have no intention of having a significant other or to have children, get life insurance anyways. Your mind could change one day when you meet someone special to share your life with. And unless you remain celibate for life, children are always a possibility - planned or not.

I also recommend that you get as much insurance as you can afford. You have to look ahead when life insurance or an increase to existing coverage is limited or refused due to illness or injury. Once you have children or a spouse, how will they be taken care of if you die? How will they support themselves?

Unfortunately, many do not have life insurance or do not have adequate life insurance. If you have a family, they could be left destitute due to your failure to secure the necessary insurance coverage required for their living expenses. Any insurance sales agent can help you determine what type or level of life insurance you require.

Before visiting with your insurance agent, be sure to compile a list of all your debts, including your mortgage. Include your annual income from all sources. Mark down all assets such as your 401K or savings account. Make a list of all bills you pay each month which may include water, power, cable, internet and property taxes. You need to know how much you spend each month on all items, which will include food, clothing, recreation and fuel. You also need to know what you spend during the year on other items such as vehicle maintenance and dental and medical expenses. These expenses should be divided by 12 and then that amount should be used when determining your monthly budget.

Once you have all the necessary information in hand, book an appointment with your insurance agent. Ensure that you deal only with well known companies so that they are more likely to still be in business as you get older.

Your insurance agent will go through everything with you and will guide you to the best policy for your needs. Once you fill out your request for insurance with all the required information, you may be required to take a medical test. Based on all the information, the insurance company will then decide whether they will insure you and if so, at what rates they will ensure you at.

Again, I can not stress enough the importance of applying for life insurance while still young and healthy. Age, illness and injury will all impact what coverage you will be able to get. If you can not get life insurance due to your medical status or family medical history, you can always consider accidental life insurance. These policies are usually never refused because it is for accidental purposes only. However, life insurance is the best way to protect your family as it covers death from illness and accidents.

Joan Peterson is an Entrepreneur and Internet Marketer Mentor who helps people internationally to achieve Financial Freedom by creating wealth and prosperity online! Allow a military veteran to show you how to achieve true financial freedom and make money online fast by visiting http://www.wealthfreedomticket.com/

Article Source: http://EzineArticles.com/?expert=Joan_Peterson

Accidental Death Insurance - Take Care of Your Beloved Ones Even After You Leave
By Sturat Mitchel

Human beings cannot entirely exercise control over the happenings like accidental deaths but can surely control the future of our family or beloved ones if we meet an accidental death. That is through the accidental death insurance. As you would have already guessed from the name, accidental death insurance is made to get the insurance in case a person meets an accidental death or suffer serious injuries like the loss of limbs or blindness. In case of a death the insured money is paid to the beneficiary and in case of bodily injuries the insured gets a part of the sum. This insurance is only applicable to those deaths that have been caused by accidents, natural deaths due to various diseases and suicide deaths are not covered by these deaths.

Any UK resident who falls in the age group of 16-75 years is eligible for this insurance. The monthly premium that you will need to pay will depend on the insurance plan factors like period of insurance, the sum insured etc. Various insurance companies offer various insurance plans. In some plans along with the accidental insurance you also get the medical support like second opinion on any health problem and access to the medical support team.

Although the major purpose of accidental death insurance plan is to benefit the dependents after the sudden death of the insured still there are some conditions in accidental death benefit plan that needs to be read properly. Like the insurance will not be applicable if the person was driving with alcohol in blood which is more than the permissible limits under the law, was serving in the armed forces or was playing some adventure sports like paragliding, rock climbing, motor racing etc mentioned clearly in the insurance clauses. A person cannot claim benefits from more than one policy. Generally, the insurance is valid for a period of 12 months before it is up for renewal.

Sturat enjoys writing and sharing articles on topics like accidental death insurance and accidental death benefit plan.

Article Source: http://EzineArticles.com/?expert=Sturat_Mitchel

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Wednesday, October 14, 2009

Update Oct.14, 2009 All About Accidental Life Insurance By Insurance Experts

Waiver Of Premium And Accidental Death Benefit Riders
By Donald Lusan Platinum Quality Author

Most life insurance companies offer waiver of premium and accidental death benefit riders. These riders are the less talked about benefits of owning a life insurance policy. They can sometimes make such a big difference when a breadwinner dies. Let us take some time to examine how the waiver of premium and the accidental death benefit riders work.

Many life insurance companies sell accident policies. Some are bought for long periods of time and others for short periods of time. You can buy a policy that would pay the face amount to your beneficiary if you should die in any type of accident. Some accident policies specify that you must die in a specific type of accident...for example; an automobile accident or an aircraft crash. These are not the types of policies we refer to when we talk about accidental death benefit riders. These are separate policies. The ones we want to discuss here are the riders added to a base policy. Let us waiver of premium and accidental death benefit riders in turn.

Waiver Of Premium RidersProbably the most popular rider added to a life insurance policy is the waiver of premium rider. For a very small fee, usually a few cents per $1000 of life insurance, you can purchase a waiver of premium rider which will become part of your base policy whether it be whole life, term life, universal life or variable life... If you should become disabled, as long as you are disabled for a minimum of 6 consecutive months, the life insurance company will waive your premium for as long as you are disabled even if it is for the rest of your life. Whenever you are healthy enough to return to work you pick up your premium payment again and you owe the life insurance company nothing for the months that you didn't pay the premiums. The policy would just go on as if you never missed a payment. With the whole life and term policies the entire premium would be waived, however, when it comes to universal life policies and variable life policies the situation would be a bit different. As universal life is made up of term life insurance and saving and variable life is made up of whole life insurance and an investment portfolio the premiums waived upon disability would be limited to the portion of your payment applied to the term insurance and the whole life insurance respectively. An important thing to remember adding a waiver of premium rider is the definition used by the life insurance company. There are still many life insurance company which suggest that you are disabled when you cannot engage in any occupation because of illness. This definition almost guarantees that your premiums may never be waived. In other words if you can do any type of work you are not considered disabled. The type of definition you need is one that states that if you cannot engage in your "own occupation" then you are disabled. In other words if you are unable to engage in the occupation for which you are trained and in which you are now employed then you are disabled. You may be able to do some other type of work for a reasonable monetary consideration but it is not the occupation that you are trained for and in which you were engaged at the time of the inset of your disability. You are disabled. Look out for this as you would be surprised at the number established life insurance companies who still use the antiquated and misleading definition.
Accidental Death Benefit RiderAnother very popular rider that you may want to add to your base life insurance policy, whether term, whole life, universal life or variable life insurance policy is the accidental death benefit rider. This is sometimes referred to as the "double indemnity clause". This rider legally binds the life insurance company to pay to your beneficiary double the face amount of the policy if you should die in an accident. There is a nominal fee for the inclusion of this clause into your policy. Some life insurance companies allow you to purchase what is referred to as "triple indemnity". Your beneficiary would be paid three times the face amount in this case. Of course you pay additional for this. Let us suppose you died in an automobile accident, in a plane crash or in fact any situation that can be considered an accident the life insurance company has to pay the additional amount. If you, however, engage in any occupation or avocation at the time of application for the policy which would indicate that you would die in an accident the life insurance company may refuse to issue the accidental death benefit rider or charge you extra to add it.

These two riders, the waiver of premium and accidental death benefit riders may well be worth the minimal extra cost.

For additional information go to:

http://www.lifeinsurancehub.net/waiver-of-premium.html and
http://www.lifeinsurancehub.net/accidental-death-benefit.html

For more than 40 years Donald has been known for his extensive knowledge of the life insurance business. He has represented some of the largest and most admired life insurance companies in the United States as well as Canada. His advice is invaluable.

Donald's website is: http://www.lifeinsurancehub.net

Article Source: http://EzineArticles.com/?expert=Donald_Lusan

Understand Extension of Life Benefits, Accidental Death and Dismemberment of Group Insurance
By Kyle J Norton Platinum Quality Author

As we mentioned in the other articles, many corporations will offer competitive packages, and that's even a strategy in hiring and retaining employees. These competitive packages include group insurance to plans that provide individual retirement accounts or traditional registered pension plans, etc. In this article, we will discuss the extension of life benefits, accidental death and dismemberment of group Insurance.

1. Extension of life benefits after retirement

The cost of the full life insurance benefit are not carried from the date of retirement until death upon the retirement but the coverage can be modified in any of several ways

a) The benefit can continue at a reduced 50% level with a maximum amount indicated in the group contract. Premium may be required eihter by single premium or paid by the employer or from the retired employee.
b) The coverage may continue with an annually reducing benefit for the first five years of retirement.
c) A residual benefit of $2,000 a year for life.

2. Accidental death and dismemberment

A accidental death and dismemberment is usually included as part of the life benefit. A principle is payable to employee beneficiary in the event of accidental death matching the amount of life insurance benefit. The coverage of dismemberment in event of dismemberment is payable to employee depending to the detail lists and each with its own percentage loss of the amount of life insurance benefit.

Remember the same beneficiary designations apply to group life benefits as to individual contracts. You may even designate an irrevocable beneficiary to the group life benefit if you wish and most group insurance contracts do not contain a suicide two-year exclusion clause as to traditional life insurance policies.

I hope this information will help. If you need more information, you can read the complete series of the above subject at my home page:

http://lifeanddisabitityinsuranceunderwriter.blogspot.com/

Kyle J. Norton
http://lifeanddisabitityinsuranceunderwriter.blogspot.com/

I have been studying natural remedies for disease prevention for over 20 years and working as a financial consultant since 1990

Article Source: http://EzineArticles.com/?expert=Kyle_J_Norton

Understanding Accidental Death Insurance
By Sturat Mitchel

Nearly any company that offers accidental death insurance includes dismemberment as a covered event. This fact in itself is a clue to the difference between this type of coverage and the various life insurance policies that are commonly available. The key issue of accidental death and dismemberment, or AD&D, is the unexpected event which causes the unhappy circumstances to occur.

While life insurance policies do in fact make allowances for accidental death, it is a wholly separate term within the policy and may even increase the cost of the premium to include it in the policy. Unexpected catastrophe is the very core of an AD&D policy, and as such the policy will have specific coverage with terms which focus solely on this aspect.

Whether or not one chooses to purchase an AD&D policy along with their standing life insurance coverage, the fact remains that they are indeed separate issues and are therefore exclusive vis-à-vis terms of policy. It would be advisable to investigate thoroughly before any decision is reached.

The chances of accidental death may be greater than is first assumed. Those persons under the age of 40 to 45 years old have a greater chance of dying with this insurance than of succumbing to heart disease or cancer. This applies to both men and women alike. Quite a surprising revelation with all of the focus on cancer and disease issues these days.

Due to the specificity of the payout structure with this insurance, it is commonly offered as a special rider in many employee health insurance plans, or as an addendum to an existing life insurance policy. In both instances, the premiums for coverage are over and above the policy premium itself. Rates differ in both of these instances, and should be researched before you make the final decision.

Visit us to get more information on topics like accidental death insurance and life cover

Article Source: http://EzineArticles.com/?expert=Sturat_Mitchel

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All About Accidental Life Insurance

Sunday, October 18, 2009

Update Oct.18, 2009 All About Accidental Life Insurance By Insurance Experts

Wednesday, October 14, 2009

Update Oct.14, 2009 All About Accidental Life Insurance By Insurance Experts

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