There are so many different types of insurance available to purchase that choosing the one that's right for you can be a bit overwhelming. Accidental death and dismemberment insurance is probably one you've heard of before. But what exactly does it cover?
AD&D covers a variety of accident scenarios depending on the policy and the provider. To purchase AD&D you generally do not require a medical before obtaining the policy. Coverage includes all accidents that occur at work, home, or at play. Best of all this type of insurance is very affordable!
Benefits under this policy will typically pay 100% for death, both feet or hands, loss of eyesight or loss of both eyes, a hand and a foot, one hand and an eye, a foot and one eye, loss of speech or hearing in both ears, paraplegia and quadriplegia.
50% is generally paid out for loss of one hand, loss of one foot, loss of one eye, loss of speech, hearing, or hemiplegic. While a 25% payout occurs for loss of a thumb and index finger on the same hand, or a variety of other finger combinations.
Accidental death and dismemberment also includes some additional benefits such as emergency evacuation, home renovations to accommodate disability, vehicle modifications as needed, waiver of premium, educational retraining, as well as double indemnity for paralysis or dismemberment.
AD&D policies usually provide optional family coverage quite inexpensively. A typical $100,000 AD&D policy costs about $1.80 for one person and about $3.50 per month for a family. Policies are available with maximum coverage amounts ranging from $25,000 to $500,000.
Most of the accidental death and dismemberment insurance plans do have a few exclusions for which they will not pay out. Self inflicted injuries, attempted suicide, war, a career in the armed forces, or a career as a pilot are a few of the exclusions that are part of the policy.
Accidental Death and Dismemberment provide a lump sum payment either at the time of dismemberment or death that resulted from the accident. Some AD&D policies have a life insurance payout should a death occur. Others strictly provide AD&D benefits. Read your policy.
You must be absolutely positive that you file your claim within 365 days of the accident. You must fill out the requested forms completely after you have gotten them from the insurer. Your doctor will need to sign the fully completed forms, and most claims will require the certificate to be signed by your doctor.
If you think the type of coverage is appropriate for your specific needs, accidental death and dismemberment insurance is a cheap if limited form of insurance.
Article Source: http://www.orbitaloc.com/
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