Is Accidental Life Insurance Worth It?

  1. 1350 POINTS
    Katherine McDaniels
    Owner/Insurance Broker, KM Health Insurance Services, Hazel Crest, Illinois
    Great question.  In my professional opinion, I would say yes especially for people with dangerous jobs or just simply drive!  Normally it does not cost but a few dollars more for a substantial amount more of insurance. Also if you get a plan that offers Return of premium, you get it all back anyway.
    Answered on May 9, 2013
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  2. 63333 POINTS
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    Peggy Mace
    Most of the U.S.
    Accidental Life Insurance (usually called Accidental Death and Dismemberment Insurance) is relatively inexpensive because death due to accident is relatively infrequent. If you were on a very tight budget where you had to choose between Life insurance or Accidental Death insurance, I would suggest owning a small Life insurance policy would be worth more than having a large Accidental Death policy, because the chance of passing due to illness is so much greater than the chance of dying accidentally. However, if you are not on a very tight budget, the low price of Accidental Death insurance makes it a somewhat painless addition to one's Life insurance portfolio.
    Answered on May 9, 2013
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  3. 4330 POINTS
    Jerry Vanderzanden, CLU, ChFC
    Co-Founder, Coastal Financial Partners Group, California
    Accidental death and dismemberment (AD&D) and accidental death benefit (ADB), either as a stand alone policy or as a rider on a life insurance policy, is inexpensive but I question its value. In some instances, it may make sense to the buyer. I don't follow industry sales data at this granular a level but I can safely say that it is neither offered nor sold as much as it was in the past when our economy was more industrial and agrarian than service oriented the way it is today.
    Answered on May 9, 2013
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