Wednesday, June 15, 2022

What Is Life And Accident Insurance

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Term Life Insurance Is Ideal For Protecting Those Who Rely On Your Income

How Does Accidental Life Insurance Work? Accidental Death Insurance Explained

Term Life Insurance can help your loved ones with financial needs after your death during the specified period of your coverage. In addition to day-to-day expenses, Term Life Insurance can also help your loved ones pay for college, cover bills or fund retirement.

Term Life Insurance provides affordable protection for a specific period of time, usually during your working years. In some cases, coverage can even be extended past your original term.

  • Term Life is the ideal coverage for high-demand years when your loved ones most rely on your income.
  • Its often the most affordable life insurance option for short-term needs.
  • Benefits are payable if you die during the term or period you select.
  • Payments stay level during the term period.

Costs, eligibility and waiting periods before benefits are dispersed can vary depending on your plan. Talk with your HR representative for more details.

What’s Not Covered By Ad& d Insurance

While AD& D insurance may cover accidental death and murder, there are many causes of death and injury that may not be covered, often including:

  • Specified recreational activities
  • Accidents while occurring under the influence of drugs or alcohol
  • Suicide
  • Natural causes or illness

Keep in mind that if you’re in a particularly high-risk job such as firefighting, law enforcement, or the military, you may not be able to qualify for AD& D coverage. Shop around, as your eligibility could differ by insurer.


When you participate in dangerous extracurriculars or work, you accept the risk involved. As a result, AD& D policies don’t typically cover death or injury caused by high-risk activities, and standard life insurance policies may take the same stance.

How Colonial Life Accident Insurance Works

When an accident happens, the last thing you want to think about is how youre going to pay the bills. Accident insurance helps you pay for the medical and out-of-pocket costs that you may have after an accidental injury. Based on your policy, this can include emergency treatment, hospital stays, medical exams and other expenses like transportation and lodging.

Accident insurance policies can provide you with a lump sum payable directly to you that will help pay for a wide range of situations, including initial care, surgery, transportation and lodging, and follow-up care. Heres how it works:

  • A set amount is payable based on the injury you suffer and the treatment you receive.
  • Benefits are payable directly to you and can be used as you see fit.
  • Coverage is available for you, your spouse and eligible dependent children.
  • You do not need to answer medical questions or have a physical exam to get basic coverage.
  • Accident insurance covers injuries that happen on the job or off the job, unlike workers compensation, which only covers on-the-job injuries.
  • Benefit payments are not reduced by any other insurance you may have with other companies.

Costs, eligibility and waiting periods before benefits are disbursed vary, so talk with your Colonial Life benefits counselor to learn more.

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What Coverage Do You Need

While there are some similarities between health insurance and accident insurance, health insurance is a must for virtually everyone, while accident insurance is supplemental insurance that is optional and is meant to supplement existing insurance.

If you have any questions about health insurance, contact your benefits administrator or visit If you have any questions about accident insurance, contact a licensed insurance agent.

Your Employees And Their Families

Accident Term Life Insurance
  • Can gain peace of mind so they can focus on health and recovery instead of worrying about paying bills
  • Receive direct benefits that can be used however theyd like, regardless of any other insurance they may have
  • Can select coverage options for themselves and/or eligible dependents
  • Some policies are portable, allowing employees to keep their coverage even if they change jobs

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Pros Of Accidental Death Life Insurance:

  • You can have peace of mind that coverage will be provided to your beneficiaries in case you die in an accident.
  • These policies tend to come with living benefits, meaning a certain amount is paid out if you become disabled from an accident.
  • These products tend to be extremely affordable, often costing several dollars per month.

What Does Accident Insurance Cost

There are a variety of factors that contribute to the cost of accident insurance. As with many types of insurance, your age plays a major role the older you are, the more expensive your plan will be. Accident insurance also has a deductible. Before you receive a payout, youll be responsible for this amount. Usually, your deductible amount is simply taken out of your benefit before you receive the funds. Youll pay a higher premium for a lower deductible, or you can opt for a higher deductible in order to save money on your premium. Just be sure to choose your deductible level with care, and make sure that you can afford it before finalizing your plan.

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See How Term Life Insurance Can Help Provide Peace Of Mind

Jennys kids mean the world to her. If something were to happen to Jenny, she would want them to be taken care of and their college tuition to be provided for. And she wouldnt want her other family members to be burdened with her final expenses.

How Jenny’s plan works:

If Jenny dies, her loved ones can use the money for:

  • Final expenses
  • Student loans
  • Monthly living expenses

What Does Accidental Policy Cover

Accident insurance. Is it really worth it?

Accidental life insurance could be a great addition in ones financial portfolio and provides a peace of mind that you are protected in case of an accident. Did you know that according to the National Safety Council, an American dies every 3 minutes by a drug overdose, a motor vehicle crash, a fall, a drowning, a choking incident or another preventable occurrence?

In 2018, was the highest number in accident deaths. There are 466 lives lost PER DAY due to an accident.

The need is there and this product fills the gap.

Here are some of the most common causes of accidental death covered by accidental life insurance

  • Fatal vehicle accidents

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Life Insurance Vs Personal Accident

What’s Best When Your Employees Are Abroad?

Today, organizations are more global than ever before, and its important that those working abroad are protected. Despite the best precautions, accidents can still happen, and workers can be put at risk.

Thats why Clements Worldwide offers global companies customizable group life insurance and group personal accident insurance, which can both protect the company and employee, and alleviate any possible financial strain.

What is the difference between life insurance and personal accident insurance?

Abdallah Ahmed, from Clements Worldwide, said when looking at the two policies, there are several things a company needs to consider as to which works best for them.

Life insurance can cover natural causes as well as accidents, while a personal accident policy will be much more tailor-made for some of the more high-risk places, he said. A personal accident policy offers more than just death benefits, including salary compensation if an employee cant work, benefits for serious accidents like dismemberment, and access to emergency evacuation.

Because illness is still more likely to be the cause of death or inability to work, a personal accident policy is usually more affordable than a life insurance policy for expatriate staff. It will also be offered in high-risk locations where life insurance may not be available.

Should you offer both policies to employees?

Will you need to evacuate?

What Is Life Insurance

Life insurance provides whomever you choose with a one-time, tax-free payment when you die, as long as you continue to pay your premiums.

There are different types of life insurance, and different ways to make it work for you. Its not only to protect your family. It can also be part of your financial plan, so you may be able to access money in your policy while youre alive.

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Is Death By Accident Insurance Worth It

Having insurance for a death that was caused by an accident is 100% worth the cost for the amount of benefit you get, for the monthly premium, and for the peace of mind.It is also a great form of coverage to have if you do not medically qualify for traditional life insurance.Over 146,000 people died from accidents in 2015, and that number doesnt seem to be slowing down.There isnt any reason to purchase this additional coverage and safety net, and if you see it offered as a rider on a traditional life insurance policy, I would always add it for those few extra bucks.

Preparation For The Unforeseen

Accidental Life Insurance Quotes Images &  Pictures

Mia and Martin share all their life experiences. When Mia had a traumatic experience, she was grateful to have planned ahead for the unexpected.

Finding the Right Coverage for a Proactive Lifestyle

Living a debt- and worry-free life starts with proactive planning. Accident insurance coverage may help you to avoid financial worry.

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Commonly Asked Questions About Accident Insurance

To view a copy of your policy, update your contact information and manage your Colonial Life insurance, log in to your account. If you dont have an account, register here.


Group Accident : Applicable policy form GACC1.0-P 76103 .

Group Accident: Applicable policy form GACC1.0-P 76103 .

Individual Accident : Applicable policy form IAC4000 81157 .

Individual Accident: Applicable policy form Accident 1.0-HS 71152, Accident 1.0-NS 71153.

Gunshot Wound: Applicable policy form PYWOL.

Comparing Ad& d And Life Insurance

AD& D PolicyLife Insurance Policy
Covers coma, paralysis, loss of a limb, loss of sight, and loss of hearing from an accident?Yes

Life insurance and AD& D policies overlap in many ways. Both these policies may expire depending on what type of policy and terms you have, and both provide financial payouts to your beneficiaries upon a covered death. However, these insurance policies have some key differences.

AD& D insurance is much more restrictive. Only deaths caused by an accident are covered. This type of insurance usually doesnt cover any intentional injuries or deaths from illnesses or natural causes. Risky activities like extreme sports and car racing may also not be covered.

When shopping for a life insurance or AD& D policy, be sure you understand if the coverage will expire after a certain number of years or upon a certain age, or if its permanent .

People who dont qualify for a life insurance policy due to a high-risk occupation or medical problems can often get AD& D insurance. AD& D policies don’t take your profession into account, nor do they require a life insurance medical exam.

However, the cost of an AD& D policy may not be any more expensive than a term life policyin which case, the life insurance policy is probably a better choice since it covers more causes of death.

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Employers And Hr Representatives

The policy or its provisions may vary or be unavailable in some states. The policy has exclusions and limitations which may affect any benefits payable. See the actual policy or your Unum representative for specific provisions and details of availability.

Group Term Life Insurance is underwritten by Unum Life Insurance Company of America, Portland, ME. In New York, group term life is underwritten by First Unum Life Insurance Company, New York, NY.

Individual Term Life Insurance is underwritten by Provident Life and Accident Insurance Company, Chattanooga, TN.

Whole Life Insurance is underwritten by Provident Life and Accident Insurance Company, Chattanooga, TN. In New York, whole life insurance is underwritten by First Unum Life Insurance Company, New York, NY.

Features Of An Individual Accident Insurance Plan

What is Accident Insurance?

Not all accident insurance plans are the same. Like any purchase, it is a good idea to shop around before settling on a final product. Insurance carriers offer different coverage amounts at different premiums and what is covered on one plan isnt always covered on another.

When you purchase a supplemental accident insurance plan there are a couple of common features that are important to keep in mind.

One feature that sets accident coverage apart from other types of insurance is that it is easy to get signed up. Getting a quote and policy for accident insurance is a no-hassle process and there are guaranteed issue options that allow you sign up without hesitation and with no approval needed. This means no medical exams are required when signing up for certain accident insurance policies. The reason for this is that your personal health doesnt really impact the likelihood of getting injured in an accident.

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Whats Covered By Accident Insurance

What your accident policy covers will depend on your coverage and insurance company. Insurers usually divide injuries into different categories to assign them a level of risk and coverage. These include:

  • Accidental death or dismemberment

  • Laceration

  • Fracture

Each category covers several distinct types of injuries. If your injury isnt specifically identified within one of those categories, you won’t be able to file a claim for it.

The more severe your injury, the greater your benefit will be. For more serious conditions, such as being in a coma, you can expect a benefit as high as $10,000. Less serious injuries, like a laceration, may only trigger a benefit worth a few hundred dollars.

Companies may distinguish between basic dismemberment accidental loss of just one limb, sight in one eye, or hearing in one ear and catastrophic dismemberment accidental loss of at least two limbs, sight in both eyes, hearing in both ears, or ability to speak. These benefits can be tens of thousands of dollars.

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What Is Accidental Life Insurance

This is a type of policy that would provide coverage, in case the insured dies due to a covered accident. This group of policies is very affordable and easy to secure. It is often viewed as a piece in the overall protection plan for your family and children. Accidental coverage can be added to a traditional life insurance policy as a rider to secured as a stay alone product. There is little no none underwriting and it is offered compared to guaranteed acceptance life insurance. Accidental life insurance does not require a medical exam and it could be issued in days vs. weeks or months.

Most companies will offer coverage from $50,000 to $500,000 and you need to be between age 18-70 to qualify. If you need more coverage, jump over to the last section of the guide.

We want to mention that if there is a topic we didnt cover in this guide, or have any questions when it comes to life insurance, simply reach out to us. We will take the time to review your options and present you with a solution. You can do so by filling out the instant quote form on this page or simply give us a call.

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What Is Accidental Death Benefit Insurance

Both AD& D and ADB life insurance policies only pay out in the case of accidents. The main difference is that an ADB policy may only pay out for a fatal accident, while AD& D policies can also pay out for accidental dismemberment and certain accidental injuries. Insurers might only offer one or the other, or both.

How Can You Find The Best Accident Insurance Plan That Works For You

Accidental Death and Dismemberment Insurance

If you are shopping around for accident insurance, there are a few common considerations to think about before signing up. Some of the questions that you might ask are:

  • Can I sign up without a medical exam? You want to find a plan that doesnt require you to get a medical exam if possible. This saves you the time and hassle of going to the doctor, as well as any fees associated with a doctors visit.

  • Is it easy to file a claim? Accident insurance is only useful if you can use it. When an injury occurs the last thing that you want to think about is jumping through hoops to file a claim. When shopping for accident insurance look for companies that offer online, no-hassle, claim filing.

  • What is and is not covered by the plan? Not all plans will cover the same injuries and treatments. It is important that you understand what your plan covers and what it does not, before committing to a plan.

  • How quickly will I receive my benefit? Having an accident policy does you no good if you cannot get funding in a timely manner. You should look for a plan that has a quick turnaround when it comes to getting funds out.

  • How will the benefit be paid out? It is important to know how your benefits will be paid out. Some benefits are paid as a lump sum and others are paid out on a monthly basis. Understanding how funds are distributed can help you to plan out your finances in case of an accident.

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Where To Get Accident Insurance

There are two ways to get accident insurance. The first is with a personal accident insurance policy. Just like most other types of supplemental coverage, you can shop around at different insurers to find the best coverage and the best price.

The other option is to enroll in an accident insurance policy through your employer, if available. What is group accident insurance? Many employers offer this optional coverage as part of their benefits package. You may receive more robust coverage or a discounted premium through your employer. These policies are typically customized by your employer so check to see what type of coverage is actually included before you opt in. Plans are generally voluntary and the premium is deducted from your paycheck.

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