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Miscellaneous Insurance Coverages

Accidental Death and Dismemberment Insurance (AD&D)

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AD&D Insurance pays your beneficiary if you die in an accident or if you lose one or more limbs or your sight. Many employers provide this coverage free of charge.

Everyone can qualify for this insurance, regardless of health history. No medical questions are asked.

However, even though premiums are low, this coverage is seldom worth it. The policy only pays if you die from one cause -- an accident.

If you're offered the insurance for free, there is no reason not to take it. Many banks and credit card companies send out solicitations offering a thousand dollars of AD&D for free in the hope you'll buy more. Before you sign:

  • Read the offer carefully. Make sure that by signing you're not signing up for more than the free amount.
  • Be prepared for future mailings or phone calls from the same company trying to convince you to buy more insurance.
  • Remember, these policies pay ONLY if you die in an accident, and cannot be borrowed against or sold in a viatical settlement.

Keep a copy of the free offer and your acceptance with your other insurance so people will know about it in case you do die accidentally. Also mention where the policy is on your List Of Documents.

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