Accidental Death Insurance
If you are looking for a low-cost alternative to life insurance or a low-cost supplement to a life insurance policy you have now, Accidental Death Insurance is probably the way to go.
There is a large group of people out there who are stressed over not having life insurance because of health issues that drive the premium up to where it’s unaffordable. Accidental Death Insurance is a great solution because medical issues are not considered when it’s purchased.
Accidents happen all the time, and many result in death. In fact, according to Statista, accidents and unintentional injuries are the third leading cause of death in the United States in 2018. That puts accidental death ahead of chronic respiratory diseases, Alzheimer’s, and Diabetes.
These statistics make it all the more important to purchase Accidental Death Insurance when you cannot afford traditional life insurance.
What is Accidental Death Insurance?
Accidental Death insurance pays a benefit if you die as the result of an accident, or if your policy has dismemberment coverage, it pays a benefit to the policyholder for the loss of a member.
Most life insurance companies offer an accidental rider that will pay benefits like a stand-alone accidental death policy with the limit typically the same as the death benefit in the primary policy. Like stand-alone accidental death insurance, the accidental death rider on your life insurance is inexpensive.
Depending on the company you purchase your insurance from, there are exclusions when the insurance company will not pay benefits:
- Death caused by a self-inflicted injury or suicide
- Death related to illegal activity or while committing a crime
- Death from an overdose of medication not prescribed by a doctor
- A death that results from intoxication
- Death while serving in the military
- Death resulting from natural causes or mental infirmity
- Death resulting from an injury while flying an airplane or while a crewmember
- Death that results from an injury while you’re engaged in a hazardous activity like speed racing or skydiving
These exclusions are typically found in an Accidental Death Policy whether it’s a stand-alone policy or a rider added to a life insurance policy.
How Accidental Death Insurance compares to Term Insurance
Accidental Death Insurance will only pay a benefit if your death or injury is caused by a covered accident, however, traditional life insurance like Term life insurance will pay a benefit for all causes of death.
|Accidental Death Insurance||Traditional Life Insurance|
|Pays only if death is caused by a covered accident||Pays if death is the result of an accident or natural causes|
|No medical underwriting required||A medical exam may be required – medical questions on application|
|Benefits usually reduced or canceled at age 65||Coverage is for a specific term or for a lifetime if permanent insurance is purchased|
|Maximum death benefit is typically $500,000||Death benefit can be as high as $25 million|
|Extremely low monthly premium||Low premium if term coverage but higher if whole life or universal life|
|Can purchase through an insurance agent, financial institution, or directly from an insurance company||Can be purchased through a licensed agent or directly from an insurance company|
Who should consider Accidental Death Insurance?
Regretfully, everyone knows that death is inevitable. We all know that we’ll die someday but in all cases, there’s not much we can do except prepare for the financial distress it will cause our surviving loved ones. We know we’ll die but not what will cause our death, so why not financially prepare for the inevitable?
Whether you are currently uninsured or underinsured, accidental death insurance can benefit your surviving loved ones and should be considered:
- Use accidental death as an inexpensive solution for increasing the coverage in your current policy
- Since there are no underwriting requirements, consider accidental death insurance
- Those who cannot medically qualify for traditional insurance and cannot afford guaranteed acceptance coverage can instead at least mitigate a portion of the risk with accidental death insurance.
- Individuals who want temporary coverage while they are traveling abroad
- Consumers who want coverage on all their family members but can’t afford traditional life insurance
Which Company offers the Best Accidental Death Insurance?
There are many life insurance companies that offer Accidental Death Insurance as a rider on a traditional insurance policy and offer stand-alone Accidental Death Insurance as well.
We believe that Mutual of Omaha is the best choice because of its well-known history of offering premier life insurance products at affordable rates along with outstanding customer service to its policyholders.
Since Mutual of Omaha is owned by its policyholders, the company answers to its customers rather than Wall Street and we believe that is the best situation to be in.
Mutual of Omaha, as a premier life insurance provider in the U.S., makes the following promises to its customers and prospective customers concerning its Accidental Death Insurance plans:
- As long as an applicant falls within the eligible age group and does not already have a Mutual of Omaha Accidental Death policy, they will not be denied coverage.
- Mutual of Omaha’s Accidental Death insurance application contains no questions regarding the applicant’s health or financial situation.
- If you currently have traditional life insurance, your accidental death insurance policy will also pay as long as your death is the result of a covered accident.
- Mutual of Omaha will never increase your monthly premium for Accidental Death Insurance unless the premiums are increased for everyone in your state and rate class.
About Mutual of Omaha
Mutual of Omaha is a Nebraska-based life insurer that is owned by its policyholders. Founded in 1909 and well-known for its Mutual of Omaha’s Wild Kingdom television series, the company has maintained exceptionally high financial rating scores for decades.
|Rating Service||Current Rating||Description|
|A.M. Best||A+ Superior||2nd highest of 16|
|Moody's Investors Services||A1 Good||5th highest of 21|
|Standard & Poor's||AA- Very Strong||4th highest of 21|
|Better Business Bureay||A+||Accredited since 1940|
For more information about Accidental Death Insurance from Mutual of Omaha and to get a free and confidential quote, call the insurance professionals at InstantQuoteLifeInsurance.com at
(866) 691-0100 during normal business hours or contact us through our website to get your policy issued today.