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Can’t Qualify For Life Insurance? Look Into An Accidental Death Policy

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Can’t Qualify For Life Insurance? Look Into An Accidental Death Policy

Everyone should get coverage to prepare for the future, however, not everyone is able to get the insurance they need. Between poor health concerns, low incomes, unhealthy lifestyles, and other risks that prevent people from qualifying for insurance, getting the correct coverage for your needs can be hard.

If you have suffered the stress of not having life insurance because you were not approved for a policy, there is still hope to get some coverage to help in case of a tragedy.

Accidental death coverage can be easy to apply for, inexpensive, and a great option for those who need some type of coverage to assure coverage for their families.

What Is Accidental Death Insurance?

Accidental death coverage protects the family of the insured in the circumstance of an accidental death. In case of such a tragedy, the beneficiaries of the policy will receive benefits, so long as the insured has paid his premiums prior to their death.

With an accidental death policy, there are no living benefits, and the beneficiaries only receive money when the insured passes away due to an accident.

Why Buy Accidental Death Insurance?

Accidental death insurance can be much cheaper than typical life insurance. This is because there is less of a need for it, and the odds are less likely that this will happen to you.

While you think you probably don’t need this, you never know when something is going to happen that will leave your family all alone, hopeless, and grieving. If you already have life insurance, an accidental life insurance policy can act as a supplemental policy to help sustain your family in the case of your untimely death.

If you were denied life coverage, you may still be eligible for accidental life insurance. Accidental life insurance does not look as much into a person’s medical history or other issues. Providers simply want to make sure that you can commit to playing premiums. They may, however, look into the prospective customer’s occupation to see if they are a risk to the company. If a low risk is determined, then it is game on for the insured.

Cost Of Accidental Death Insurance

While your rates will depend on your risk, your age and other factors, similar to regular life coverage, it will typically be much cheaper than most other forms of life insurance. This is because the odds of getting to see the benefits are lower than usually. Also, the only benefits received are by the beneficiaries after the insured’s accidental death. This predetermined value is set in stone upon purchasing the policy, but can be changed if the insured would prefer to begin paying higher or lower premiums.

Is It Worth The Gamble?

Purchasing accidental death insurance may seem a bit extreme due to the low odds of you actually needing it, but in certain situation it can be the best idea for your life and budget.

If you have a family who you will need to support in case of your death, yet life insurance has denied you, or is flat out too expensive, then you should go with accidental death insurance. If you can support your family, and need to continue to do so after your death, an accidental death insurance policy is the next best thing after a regular life insurance policy.

Insurance is all about being prepared, so get prepared to deal with the unexpected. Life can throw some wild things your way, so make lemonade with those lemons, by protecting your family and getting covered, in any way you can.

If you are on your last straw to find insurance, see if an accidental life insurance policy will fit your needs, and your budget.

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