Accidental Life Insurance
Death by accident is the #1 killer of people under 45 and a leading cause of death for all adults (1). You can have reasonably priced coverage that you need to protect your family and your investments. Most Accidental Death benefit policies are available from ages 20 through 65, with coverage limits between $50,000 and $500,000. The policy is underwritten on a guaranteed issue basis – there are no medical questions on the application. Most applications are approved within 24 hours. Most policies pay full benefits until age 70, at which time benefits reduce by 50%. Benefits then remain level at this reduced amount until the policy expires at age 80. Riders and Benefits Spouse and Dependent Children Benefit This provides additional benefits to the beneficiary upon the accidental death of the insured spouse and any insured children. Spouse Benefit is 50-60% of the base death benefit amount, depending if eligible children are also insured on the rider. Children's Benefit Equals 10-20% of the base death benefit amount, depending if an eligible spouse is also insured on the rider. Spouse Double Tragedy in the event both you and your spouse die due to an accident or accidents that occur within the same 24 hour period. The coverage for your spouse will increase by 100%. Family Auto Safety If an accidental death occurs to your spouse or children while wearing a safety belt in a private passenger vehicle, the death benefit will be increased by 10%. College Fund Benefit This provides an additional 10% of coverage for each dependent child ages 15-22 in case you die of an accidental death. Auto Safety Benefit (Included) If you were to die due to an accident while operating or riding as a passenger in a private passenger automobile, the death benefit will be increased by 10% provided you were wearing a properly fastened and originally factory installed seat belt at the time of the accident. Travel Accident Benefit (Included) The Travel Accident Benefit pays an additional 100% for accidents in which the insured was a passenger on a public conveyance being operated by a common carrier to transport passengers for hire. Inflation Rider (Optional) The Inflation Rider increases the death benefit by an amount equal to 5% of the initial policy death benefit each year between policy years 2 and 6. After year 6 the death benefit remains level throughout the life of the policy. Return of Premium Rider (Optional) The Return of Premium (ROP) Rider allows the insured to receive a percentage of premium back – up to 100% of all eligible premiums – at the end of the ROP period. This benefit is not available in all states. Waiver of Premium Rider (Optional) Waiver of Premium Rider waives the policy premium if the insured becomes disabled as defined by the rider. It is available for those between the ages of 20 to 55. There is a 6-month retroactive waiting period. Family Accidental Death Benefit Rider (Optional) This coverage can provide additional benefits for a spouse and dependent children of the primary insured with the following features of a Family Accidental Death Benefit Rider. (1)Source: CDC/NCHS, National Vital Statistics System, 2008 |
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