Are You Shopping for a Term Life Insurance Policy That Includes Coverage for Accidental Death?
If so, you’ve come to the right place.
Today, it is quicker and easier than ever before to shop and compare the best pricing and plans available from leading life insurance carriers direct online, without any hassles or delays.
To begin, we will review how term life insurance and accidental death coverage works, and show you how to instantly compare the most affordable plans from several of the leading life insurance companies online in just minutes.
What is Term Life Insurance?
Term life is a type of temporary life insurance protection that provides you with coverage lasting for a specific period of time, usually up to thirty years.
However, you may be able to choose a "Policy Term" (duration of coverage) lasting for 10, 15, 20, 25 or 30 years.
Keep in mind, the longer your policy term, the higher your annual premium (cost) for your life insurance policy.
Term life provides "Pure Protection", which means it is only insurance, and not an investment.
Term insurance pays out a death benefit upon the death if the insured person. The proceeds from the insurance plan are paid out to the "Beneficiary" of the policy, which is chosen by the owner of the insurance policy.
Usually, the death benefit is paid out free from any federal income tax.
If you outlive the duration of your insurance policy, there is no pay out of any benefits, and the life insurance protection ends, unless you choose to renew your coverage for an additional policy term, which is usually for 10 years.
Term life insurance pays out a death benefit if the insured person dies from natural causes, illness, or an accident.
What is Accidental Death Insurance?
Accidental death insurance is life insurance that pays out a death benefit upon the death of the insured person resulting from a covered type of accident.
However, the death of the insured must occur within 6 months (usually) of the date of the accident.
Does Term Life Insurance Cover Accidental Death?
Yes. A standard term life policy includes coverage for death resulting from an accident.
What is Double Indemnity?
Double indemnity is a clause or provision in a life insurance or accident policy whereby the company agrees to pay the stated multiple (e.g., double, triple) of the face amount in the contract in cases of death caused by accidental means.
What Does Double Indemnity Protection Provide?
Double indemnity is a clause or provision in an insurance policy in which the company pays the beneficiary approximately double the amount of the standard contract in certain cases of accidental death. Double indemnity does not cover murder or suicide, or deaths by natural causes.
Double indemnity is a clause or provision in a life insurance or accident policy whereby the company agrees to pay the stated multiple (e.g., double, triple) of the face amount in the contract in cases of death caused by accidental means.
This includes murder by a person other than, and not in collusion with, the beneficiary of the insurance policy, and most accidental deaths. It excludes suicide, and deaths caused by the insured person's own gross negligence, as well as natural causes.
In 2006, 5.01% of all deaths in the United States were declared accidental. For this reason, double-indemnity clauses are usually relatively inexpensive and often aggressively marketed, especially to people over 45.
People with dangerous jobs, such as heavy construction, as well as children, are not generally eligible for multiple-indemnity coverage.
Source: Wikipedia https://en.wikipedia.org/wiki/Double_indemnity
What is the Difference in Accidental and Term Insurance?
If you're shopping for life insurance you may be wondering about the differences between accidental death insurance and term life insurance.
Accidental death life insurance plans provide a death benefit if the insured person dies as a result of an accident without a specific timeframe of the accident.
Whereas, term life insurance pays out a death benefit if the insured person dies during the term (duration) of the policy, and if the death occurs as a result of natural causes, illness or an accident.
In order to compare the best pricing available for term life insurance that includes coverage for accidental death, you can visit JRC Insurance Group and fill out a short Quote Request Form to instantly view the lowest pricing available from several of the leading life insurance companies in the U.S.A.
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What is the Difference Between Accidental Death and Term Insurance?
Term Life with Accidental Death | Globe Life Insurance
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