Considering Accidental Death vs Life Insurance

Many people wonder whether they should get accidental life insurance rider attached to their life insurance policy. There are many factors to consider and each case should be examined separately. Accidental life insurance is very specific so there are a few things to consider before purchasing:

Accidental Life Insurance

Accidental life insurance covers you only in the case of accidents. Therefore, if you die in a car crash, you would be covered. If you die from cancer, you would not be covered. Also, the insurance will cover costs that can be proven to be a part of the accident and within a three month period.

To benefit from this policy you should work in a high-risk job, such as construction, because the benefits are so specific. For example, you are not covered if you should die in surgery, overdose or by any form of mental illness.

The cost of the insurance typically ranges between $60 to $150 dollars per year. Traditional life insurance is considerably broader. It covers every type of death, other than suicide. It is significantly more expensive, but provides more options. If you want your family to be covered no matter what happens, traditional life insurance is really the only way to go. Instead of purchasing an accidental death rider, you can purchase a policy with a larger benefit amount.


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