A Greatly Underappreciated Benefit
Accidental death insurance seems quite simplistic in nature, without the need for much explanation or fanfare. However, you might be surprised to learn the true broad perspective of the coverage and the many helpful attributes of a relatively inexpensive accidental death insurance plan. In a rapid technologically developing world as busy and “travel centric” as ours is today, “accidental death” should be a real concern to most Americans.
Life insurance is the obvious first step in mitigating risk due to accidental death, but term and permanent life platforms don’t always fit into every client’s equation. Cost is a major issue. The annual cost of an accidental death policy is a fraction of the annual premium associated with any version of life insurance. Insurability is also a factor. Many prospects who don’t qualify for traditional life insurance plans due to adverse health histories or drug or alcohol concerns often have the ability to qualify for an accidental death plan.
The pandemic and the self-inflicted COVID protocols of many domestic life insurers have generally put a halt to the life insurance accessibility of many impaired-risk and older age Americans. Traditional life companies are still not allowing insurance underwriting for many with ongoing financial protection needs. Standalone accidental death insurance is a proper, short-term alternative for those seeking death benefits when they are on-hold with domestic life companies.
We also frequently see accidental death insurance utilized for travel and business purposes. It has become commonly prescribed to clients wanting additional death benefits for business trips and family vacations both within and outside the United States. It is also the perfect tool for professional, private and student pilots who want to cover their flight exposure while not having to afford the significant flat extras charged by life insurance companies.
Since 2001, war and terrorism coverage has become important for those working internationally. Petersen International’s accidental death program includes built-in coverage for acts of war and terror at no additional cost to the client and can cover U.S. residents traveling anywhere in the world including war zones and political hotspots. This versatile plan offers popular supplemental benefits such as dismemberment coverage, permanent disability coverage and emergency medical evacuation insurance. Considering the lack of sufficient life insurance options for many at this time, as well as the global dangers brought about by underdeveloped infrastructures and fledgling technology platforms, accidental death insurance should be a logical consideration of every American no matter where they live or travel. For quotes and more information about the product, contact us at (800)345-8816.