Working with a Denied claims attorney may be able to help you if you have been denied the accidental death and dismemberment insurance claim to which you are entitled. Because no one plans to be involved in a fatal accident, most people do not take appropriate precautions to ensure that their family is provided for in such a tragic event. From dangerous machinery accidents to rapidly occurring life-threatening conditions, there are a variety of unforeseen risks that buying an accidental death and dismemberment policy could help mitigate. AD&D policies come in a variety of different formats, making it easy to find a policy that works for you. You can evaluate existing policies and compare premium rates before you make a commitment to one agent or policy. Comparison shopping can help you find a policy that covers your needs rather than paying for what you don’t need. In the United States alone, there were 126,438 deaths resulting from accidental causes in 2011.
Accidental Death and Dismemberment Definitions
AD&D insurance provides coverage if you lose your life, any limb or several other serious injuries. This policy initially pays your beneficiary a fixed amount of benefits in the event of your accidental death. The second feature of the policy is that it pays you benefits for a set length of time if you are dismembered in an accident. This can include the loss of sight, speech, hearing or a portion of a limb. All policies pay based on the number of limbs lost. The loss of a hand may result in 50 percent coverage, while the loss of a hand and sight would result in 100 percent coverage. Some policies pay anywhere between 25 and 50 percent for paralysis, whether partial or full. Other policies with increased coverage may cover your hospital stay after an accident as well. While these policies are often included in insurance riders, they must be purchased separately. AD&D policies sold as riders are equal to the original insurance policy, which means that they pay out double the amount of the original policy value. This is known as a double indemnity.
Is AD&D Insurance Necessary?
AD&D insurance is necessary for a variety of reasons, especially if you work in a high-risk industry such as construction, mining, trucking or manufacturing. Welding is another dangerous industry that often requires AD&D insurance. Your individual need is based on the risks associated with your job and your ability to afford a traditional life insurance policy.
Accidental Death and Dismemberment Riders
A rider is an addendum to any insurance policy that offers additional coverage. It can be purchased alongside a regular policy such as a term policy, whole life policy or universal life policy.
The benefits of accidental death and dismemberment insurance are many. While the odds of dying from an accident are less likely than illnesses covered in a standard insurance policy, the fact that accidents are the fifth leading cause of death in the United States is cause for consideration. Occupational hazards increase this risk. If you have a hazardous job, you are also more likely to lose a limb, resulting in the loss of ability to perform your job. The financial needs of your family should largely determine whether such a policy is necessary or not. A Denied claims attorney may be able to provide you with more information on the differences between AD&D insurance and life insurance, as well as help you determine whether you would benefit from such coverage.