An accidental death benefit rider is an optional feature you can add to a term life or whole life insurance policy. This rider gives your loved ones access to a larger cash payment, or “death benefit,” if you die in a covered accident. That means that if you pass away unexpectedly from a covered accident, your family will still be protected financially.
Unlike an accidental death benefit policy, you can often add an accidental death rider to your current life insurance coverage, helping you customize it to fit your unique needs.
In some cases, an accidental death rider, or accidental death and dismemberment (AD&D) rider, may cover major non-fatal injuries that prevent you from working. This depends on the rider, however. Your life insurance agent can help you understand what the accidental death and dismemberment rider covers, so you can make the right choice for you and your family.
Most accidental death benefit riders will offer your family an extra payout on top of your regular life insurance policy’s death benefit. This extra payment can sometimes double the amount of money your family receives, which is why this type of rider used to be known as a double indemnity rider. Once the insurance company confirms that your death meets the requirements of the rider, your loved ones will receive the payment.
Since an accidental death benefit rider adds coverage to your policy, buying one will likely increase your premiums, or payments. Adding that protection now can save your family from dealing with major expected expenses later, though.
Why buy whole life insurance? Many families find it offers the assurance they’re seeking to protect their family’s future. Some reasons you might choose whole life insurance include:
Whether you’re at risk of accidents or want to be prepared for one, this rider can help you customize coverage for you and your family. At eFinancial, we offer high-quality, affordable products from top providers. Our agents can walk you through a range of accidental death benefit rider options, so you can find the one that fits your unique needs. We’re here to help you protect your family.
Riders are optional features that you can add to a life insurance policy. While adding riders can increase your premiums, they offer more protection than a policy would by itself, so you can help secure your family’s financial future.
Life insurance riders also help you customize your policy to fit your unique needs. You can add multiple riders to the same policy, allowing you to create the coverage that works best for you.
This rider might be a good fit for you if you:
Accidental death benefit riders don’t cover illnesses, which you can get special coverage for with other riders. If your injury or death is related to suicide or happened while you were under the influence of drugs or alcohol, your rider may not cover you, either. You also might not qualify for coverage if you have hobbies like skydiving or mountain climbing, or if you work in a high-risk job like law enforcement, firefighting, or the military.
