is it worth it to have accident insurance in addition to life insurance?

Answer 1

I don't think it is necessary to have accident insurance with a life policy (some life companies don't even offer it anymore).

I do recommend hospital income policies with health insurance though. It's a nice way to cover a higher deductible and decrease the cost of your health policy.

Answer 2

The question that you really need to ask is, when something happens to "me", am I covered? Life Insurance is just that, if you die, due to natural causes or accident, your heirs get the benefit. Accident insurance can pay a death benefit if set up this way only if you die from the result of an accident. Also, many accident plans have other coverages as well for hospital reimbursement, etc.

Answer 3

No. If you need life insurance, properly analyze your needs and purchase the appropriate amount of protection to meet your needs.

Why do you want more life insurance if you die by an accident?

Doesn't it make sense to make sure your family, your loved ones have the protection they need? I think so. So, why not get it right the first time and purchase the right amount of life insurance for your term and/or whole life insurance policy?

You can check out rates for accidental death policies, but it may be more affordable to just increase the amount of level term insurance you buy to meet the higher level the accidental death policy would provide for your family. And, that way you don't have to die by accident for it to payout.

Accidents are the leading cause of death among people age 1 to 34. (Source: National Safety Council, 2001).

Answer 4

I can't answer your question with authority, but I can make some assuptions and let you get the numbers to verify.

assumptions:
1. if life expectancy is 76, then you are more likely to die in an accident if you are younger than 76. much younger = much more likely.

2. accident insurance is cheaper then term life maybe much more so.


Now it is NOT a good idea to have accident insurance instead of life. But if the above assumptions are correct and accident insurance is a lot cheaper, having some as a cheap supplement is a good thing.

I am not a fan of whole life, but that is a decision you have to make for yourself.

good luck

Answer 5

Accident Insurance is usually a bad choice, chances are 1 of 7 you will ever even have a small claim.

Answer 6

worth,truely worth.why i said that.?im also a insurance agent. i know more clearly the important of accident insurance.let say if you get accident then your hand have to cut it off, (left hand) then life insurance do not make compensation because life insurance have a rules that a pair of hand cut off then have compensation. if in this case, one hand loss then accident insurance is 100% compensate you money.

Answer 7

No This is a specialty coverage; you have to die in an accident to have the policy pay off. How you die on your death certificate will determine if the policy will pay.