Terrible Name, But Essential Coverage
Accidental Death and Dismemberment — what a terrible name, right? From now on we will just call it AD&D. AD&D is available either as a mirror to a life insurance plan design or it can be purchased separately to extend current life insurance — roughly 90% of our policies have it attached to the basic life insurance plan.
AD&D insures in two ways, the first acting as a limited life insurance product designed to cover the insured if they were to die due to an accident. If AD&D mirrors the existing basic life insurance plan, the payout will generally double the dollar volume amount of the policy (commonly referred to as "double indemnity" coverage), so as long as an accident was the cause.
The second area AD&D insures is the loss of, or loss of use of a body part or function... there, we said it.
Want to know more? Give us a call.