Accidental Death and Dismemberment Insurance

Accidental Death and Dismemberment Insurance

There are many kinds of insurance on the market, but for workers and others accidental death and dismemberment insurance can be one of the most important. This type of insurance coverage is often misunderstood, and it is important for those in search of coverage to shop around carefully for the best price and the highest benefits.

As the name implies, accidental death and dismemberment insurance, known in the trade as AD&D, provides an element of life insurance coverage. The policy will designate a special death benefit to be paid to the designated beneficiary or beneficiaries in the event of the insured’s death. This type of coverage goes further than traditional life insurance, however, providing an additional schedule of payments that are to be made under very specific circumstances.

These specific circumstances include accidents, workplace injuries and other events that result in the loss of a specific limb or in the loss of a specific physical function. The specifics included in these accidental death and dismemberment insurance policies can be quite complex, and it always pays to read the fine print carefully. When buying such a policy on your own it is absolutely essential to determine exactly what is – and what is not – covered under the terms of the policy. If there is anything you don’t understand – or anything that seems unclear – it is important to request clarification before signing any paperwork or paying any policy premiums.

It is also important to keep in mind that you may already have some accidental death and dismemberment insurance coverage in place. Many employers take out this type of coverage on their workers as a standard employee benefit, and many firms also make additional AD&D coverage available to their workers at group rates. Those who have this type of coverage available at work may want to check the prices of the coverage – and the coverage limitations – before shopping for their own coverage.

That does not mean that the employer always offers the best deal on this specialized insurance product. It simply means that there will be one more policy to compare. It is still important to compare policies carefully, and to choose highly rated companies when shopping for an accidental death and dismemberment policy. The prices of this coverage can vary quite widely, as can the schedule of benefits. It is important to carefully compare the levels of coverage and the premium prices before making a final decision.

No one likes to think about accidents, just as no one likes to think about their own mortality. Even so, it is important for every worker to consider the need for AD&D insurance coverage. Accidents can and do happen, and they can strike at any time, on the job or off. While life insurance provides an important benefit for workers who are killed or die prematurely, many families are woefully unprepared for accidents that leave the family breadwinner disabled and unable to work. Accidental death and dismemberment coverage is designed to fill that gap and provide the peace of mind that comes with knowing that the family is well protected.

HIV and Life Insurance

HIV and Life Insurance

We all know that we should have sufficient life insurance coverage in place to protect our loved once and those we care about, but many of us put off getting the coverage we need. Sometimes it is simply a refusal to face our own mortality, or to talk about unpleasant topics like death and dying. Other times there is a real fear that it will be impossible to buy life insurance at any price, and this kind of fear has prevented many people from getting the life insurance coverage needed to protect themselves and their families.

Nowhere is this fear greater than among those with HIV. The existence of any serious medical condition can greatly complicate the life insurance shopping process, and the fact that many still see HIV as a death sentence can make the barriers to coverage even greater.

It is important to realize, however, that more and more life insurance companies have been discovering that it is not only possible – but also quite profitable – to insure those infected with HIV. The new drugs on the market, coupled with the stunning advances into the treatment of the disease – means that a diagnosis of HIV infection is no longer the death sentence it once was.

In fact, many with HIV are now able to manage their disease quite successfully using a combination of modern drug therapies, dietary habits and lifestyle changes. This means that many of those diagnosed with HIV a decade or more ago are still leading rich, fulfilling – and long – lives. In some ways HIV is becoming more of a chronic health condition – more akin to diabetes and heart disease than an instant killer.

These changes in the treatment of HIV infection has led to similar changes in the way life insurance companies view those with the disease. While the rates charged to those with serious medical conditions – including HIV infection – will likely be higher than those charged to healthier applicants, there is insurance coverage available, and the premiums can be surprisingly affordable.

Even so it is important for those with specialized life insurance needs, including those afflicted with HIV, to shop carefully for the coverage they need. The rates charged by life insurers can vary quite widely, so it is important to gather as many quotes as possible. Comparing coverage levels and premiums carefully is the best way to get the most coverage for the lowest price, no matter what the state of your health.

It is also important to ask about any medical exam that may be required before coverage is offered. Some life insurance companies will require a thorough medical exam for all applicants, while others will not. Those who do not wish to undergo such an exam may want to look for a policy that does not require this step.

The bottom line is that while a diagnosis of HIV, or a history of HIV infection, will certainly complicate the life insurance shopping process they do not have to derail it. There is coverage available for those who need it – the key is to shop around and compare coverage options carefully.

Key Person Life Insurance

Key Person Life Insurance

There are many kinds of life insurance on the market, but one you may never have heard of is known as key person life insurance. This specialized form of life insurance is typically taken out by companies and their board of directors in order to protect the business in the event one or more of their key workers dies unexpectedly.

While you may never have heard of this type of life insurance, key person life insurance plays a very important role in the world of business. That means that key person life insurance plays an important role in American life, and it is a good idea to understand how it works. If you own stock in any publicly traded company you have a stake in the health of that company, and that means you have a stake in the health and well being of the people running that company.

The board of directors understands the importance of their key people even more than the stockholders, and that is why they choose to carry key person coverage on their most important workers. The exact number of positions that fall under the key person provisions of the company charter will vary from organization to organization, but the intention is always the same. Key man life insurance coverage is designed to provide the owners of the company with the protection they need in the event one or more of their top executives where to die unexpectedly.

In some cases this type of key person life insurance coverage will be extended only to the chairman, chief executive officer or other vital executive. In other cases companies may take out this type of life insurance coverage on other executives as well, including sometimes the chief financial officer, chief operating officer and perhaps a few key vice presidents.

No matter which employees are covered by it, key person life insurance coverage provides valuable protection for companies and their investors. If you have invested your valuable money in the stock market, you do indeed have a stake in key person life insurance, and it is a good idea to understand how this type of coverage – or lack of it – could impact the fortunes of the companies in which you invest.