Does it pay to add accidental death benefit to the life policy? Would death in a road rage be considered for accidental death benefits?
Total Comments: 52
Posted: Tue Sep 15, 2009 02:06 am Post Subject: Accidental Death Riders
That's the problem. Most of the companies that issue A.D.D. KNOW that they are ADDing to their pockets and will NEVER pay the proceeds on A.D.D. You must read the policy or get someone to help you understand it. EVERY policy has a required way you must die before they will pay proceeds. Don't be tricked. Know what you are getting. A.D.D. is cheap for a reason.
Posted: Tue Sep 15, 2009 05:10 am Post Subject: ADB
I always add accidental death to a policy.Unless the client specifically says they don't want it. The extra premium is very low. It is a rider.Most of the time the benefit will end at a certain age. Also some companys will pay the face amt. of the policy first and request additional info. about the accident before paying the ADB.I don't beleive it has a contestability period. Hope this answered your question.
Posted: Thu Sep 17, 2009 09:48 am Post Subject:
Hi agent07,
I'm sure the ADB is something truly helpful in the event we meet with an accidental death. But then you should explain everything regarding the benefits to your customers. Many times the clauses are so inexplicable that the customer keeps guessing about the benefits and the tenure of the benefits.
Most of the time the benefit will end at a certain age.
When does this benefit end with most policies?
Steven
Posted: Fri Oct 02, 2009 09:08 pm Post Subject: adb
Yes, it is always wise to add adb to a life policy. It is very inexpensive. But remember, the 2 year contestability period does not apply to adb. It can always be contested.I always add it.(most of time)
Posted: Fri Oct 02, 2009 09:14 pm Post Subject:
Steven, With most co. it is 65 when the a.d.b. rider ends.If I am wrong someone please correct me. Thanx
Posted: Wed Oct 07, 2009 08:40 pm Post Subject:
Why is it always wise to add something that usually won't result in a claim? Isn't it wiser to take those same dollars and buy more insurance so that a death claim will be paid regardless of cause of death.
Posted: Tue Nov 16, 2010 04:02 am Post Subject: ADD Insurance
I am still awaiting disbursement of benefits from Hartford Life Ins. They are refusing to pay on a claim we made from a loss of a family member more than a year ago. The insured died of aspiration pneumonia related to prescription drug toxicity. The coronor/M.E. and doctors determined that the death was accidental. The Hartford claims suicide exclusion... and refuses to compensate the family (and 2 children). They will find a way to not pay on ADD policies. The exclusions reads "...death as a cause independent of other causation..." What the *#@% does that mean!!! And '"... by his own hand..."' because he was taking medication prescribed by a doctor!! If the doctor administered the drugs... the doctor would be liable. If the patient administered his own drugs... the patient is liable. Either way, The Hartford is exempt from liability! It would be nice if the State Department of Insurance would, truly, regulate these guys. But, they really don't. They are in collusion with the big insurance companies. I know this... for a fact!
Posted: Tue Nov 16, 2010 09:35 am Post Subject:
How long was the policy in force prior to the death of the insured? This is important to know. Also need to know in what state this occurred.
Posted: Tue Dec 28, 2010 06:35 pm Post Subject:
Why is it always wise to add something that usually won't result in a claim? Isn't it wiser to take those same dollars and buy more insurance so that a death claim will be paid regardless of cause of death.
Unlike the spam immediately above this post, this is advice you can rely on. Unfortunately, a $100,000 accidental death benefit is only a few dollars per month, it won't go very far in increasing the true death benefit. But the point remains valid -- Accidental Death Benefit riders are virtually free because the number of accidental death claims paid is virtually nil.
On the other hand, with honest-to-goodness life insurance, dead is dead, and the death claim is paid (except for suicide within the first 1-2 years depending on the state in which the policy was issued/delivered).
Posted: Sun Nov 27, 2011 05:51 am Post Subject:
Adding accidental death to your policy is kind of like buying insurance when playing Black Jack. It normally isn't worth it. However you have to take into consideration your risk factor. If you drive alot or work in a high risk job, it may be worth it. If you are someone who has a desk job, probably not.
Posted: Tue Sep 15, 2009 02:06 am Post Subject: Accidental Death Riders
That's the problem. Most of the companies that issue A.D.D. KNOW that they are ADDing to their pockets and will NEVER pay the proceeds on A.D.D. You must read the policy or get someone to help you understand it. EVERY policy has a required way you must die before they will pay proceeds. Don't be tricked. Know what you are getting. A.D.D. is cheap for a reason.
Posted: Tue Sep 15, 2009 05:10 am Post Subject: ADB
I always add accidental death to a policy.Unless the client specifically says they don't want it. The extra premium is very low. It is a rider.Most of the time the benefit will end at a certain age. Also some companys will pay the face amt. of the policy first and request additional info. about the accident before paying the ADB.I don't beleive it has a contestability period. Hope this answered your question.
Posted: Thu Sep 17, 2009 09:48 am Post Subject:
Hi agent07,
I'm sure the ADB is something truly helpful in the event we meet with an accidental death. But then you should explain everything regarding the benefits to your customers. Many times the clauses are so inexplicable that the customer keeps guessing about the benefits and the tenure of the benefits.
Most of the time the benefit will end at a certain age.
When does this benefit end with most policies?
Steven
Posted: Fri Oct 02, 2009 09:08 pm Post Subject: adb
Yes, it is always wise to add adb to a life policy. It is very inexpensive. But remember, the 2 year contestability period does not apply to adb. It can always be contested.I always add it.(most of time)
Posted: Fri Oct 02, 2009 09:14 pm Post Subject:
Steven, With most co. it is 65 when the a.d.b. rider ends.If I am wrong someone please correct me. Thanx
Posted: Wed Oct 07, 2009 08:40 pm Post Subject:
Why is it always wise to add something that usually won't result in a claim? Isn't it wiser to take those same dollars and buy more insurance so that a death claim will be paid regardless of cause of death.
Posted: Tue Nov 16, 2010 04:02 am Post Subject: ADD Insurance
I am still awaiting disbursement of benefits from Hartford Life Ins. They are refusing to pay on a claim we made from a loss of a family member more than a year ago. The insured died of aspiration pneumonia related to prescription drug toxicity. The coronor/M.E. and doctors determined that the death was accidental. The Hartford claims suicide exclusion... and refuses to compensate the family (and 2 children). They will find a way to not pay on ADD policies. The exclusions reads "...death as a cause independent of other causation..." What the *#@% does that mean!!! And '"... by his own hand..."' because he was taking medication prescribed by a doctor!! If the doctor administered the drugs... the doctor would be liable. If the patient administered his own drugs... the patient is liable. Either way, The Hartford is exempt from liability! It would be nice if the State Department of Insurance would, truly, regulate these guys. But, they really don't. They are in collusion with the big insurance companies. I know this... for a fact!
Posted: Tue Nov 16, 2010 09:35 am Post Subject:
How long was the policy in force prior to the death of the insured? This is important to know. Also need to know in what state this occurred.
Posted: Tue Dec 28, 2010 06:35 pm Post Subject:
Why is it always wise to add something that usually won't result in a claim? Isn't it wiser to take those same dollars and buy more insurance so that a death claim will be paid regardless of cause of death.
Unlike the spam immediately above this post, this is advice you can rely on. Unfortunately, a $100,000 accidental death benefit is only a few dollars per month, it won't go very far in increasing the true death benefit. But the point remains valid -- Accidental Death Benefit riders are virtually free because the number of accidental death claims paid is virtually nil.
On the other hand, with honest-to-goodness life insurance, dead is dead, and the death claim is paid (except for suicide within the first 1-2 years depending on the state in which the policy was issued/delivered).
Posted: Sun Nov 27, 2011 05:51 am Post Subject:
Adding accidental death to your policy is kind of like buying insurance when playing Black Jack. It normally isn't worth it. However you have to take into consideration your risk factor. If you drive alot or work in a high risk job, it may be worth it. If you are someone who has a desk job, probably not.
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