Accidental Death and Dismemberment
Accidental D&D Information
Accidental Death & Dismemberment is a policy that pays benefits to the beneficiary if the cause of death is an accident. This is a limited form of life insurance which is generally less expensive.
Fractional amounts of the policy will be paid out if the covered employee loses a bodily appendage or sight because of an accident. Some of the covered accidents include traffic accidents, exposure, homicide, falls, heavy equipment accidents and drowning. Additionally, AD&D generally pays benefits for the loss of limbs, fingers, toes, sight and permanent paralysis.
Advantages for your company when offering AD&D:
If your company plans to pay for coverage, you will find the low premiums for AD&D insurance a pleasant surprise. Accidental death and other covered losses occur rarely, so AD&D costs much less than term life coverage with similar limits. This makes it an attractive benefit for your employees, even if offered on a voluntary basis.
AD&D holds particular appeal for young workers, who statistically are more likely to die from accident than illness. AD&D benefits could help an insured recoup some of the income lost if he or she lost a limb, sight or hearing in an accident and couldn’t work. AD&D is especially valuable for employees whose jobs depend on their physical capabilities.
You can offer AD&D coverage to employees as a standalone policy or as an addition (endorsement) to a group term life policy. If bought as an addition to a term life policy, AD&D will provide “double indemnity,” or twice the death benefit, to the insured’s beneficiary.
Another great benefit to offer your employees is Long or Short Term Disability.
Reach out to us today for more information about Group AD&D Insurance.