Accidental Death Benefit Smithtown NY

An accidental death benefit is an added benefit that protects your family if you should lose your life accidentally. Whether it is part of your regular insurance policy or a separate policy, the benefits remain the same.


1 . Local Companies

Mr. Michael J. Goldsmith (RFC®), LUTCF
516 541 0111
549 Broadway Street Suite 201
Massapequa, NY
Mr. Jesse B. Mackey (RFC®), MBA
516 677 5034
80 Crossways Park West
Woodbury, NY
Allstate Auto Insurance
(888) 355-7971
233 E Main St
Huntington, NY
Allstate Auto Insurance
(888) 355-7971
4907 Merrick Rd
Massapequa Park, NY
Allstate Auto Insurance
(888) 355-7971
640 Horseblock Rd Ste C
Farmingville, NY
Mr. John E. Hernandez (RFC®), CSA
516 248 7066
248 N Maple St
Massapequa, NY
Harlan J. Fischer (RFC®), CHFC, CLU, LUTCF
631 979 6000
50 Route 111, Suite 206
Smithtown, NY
Allstate Auto Insurance
(888) 355-7971
12 Martin Rd S
Bethpage, NY
Allstate Auto Insurance
(888) 355-7971
2265 Route 112 Ste C
Medford, NY
Allstate Auto Insurance
(888) 355-7971
333 Jackson Ave
Syosset, NY
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2 . Overview

Not everyone thinks of an accidental death benefit when purchasing term life insurance. In fact, most people only think of it when their employer offers it as a benefit, or their main insurance policy offers riders for accidental death. Perhaps there may be those who do not even grasp the concept of an accidental death benefit rider because they have never been offered the opportunity to purchase one. The coverage offered with an accidental death benefit rider can make the difference in the financial well being of the surviving family members, especially if the accidental death benefit is higher than the face value of the policy.

Many times, riders for accidental death offer double or triple indemnity. That means the face value of the policy is increased by that amount in the case of an accidental death. An accidental death benefit can relate to many different types of situations including a work-related accident, automobile accident, or any other type of accident that has a fatal ending. Many people who cannot afford the premiums for a life insurance policy will often purchase an accidental death benefit policy. The reason behind this line of thinking is the likelihood of someone being killed in some type of accident rather than by other means. These specialty policies are less expensive than a term life or whole life policy, so there is more incentive to purchase a policy that pays an accidental death benefit.

3 . Making The Right Decision

No matter how old or young you are, there is always a possibility that something can happen to create the need for an accidental death benefit for your family. You can walk out your front door and be hit by a car as you attempt to cross the street, and if you have nothing for your family, the financial struggles can be difficult for them to handle. Funeral expenses alone can run well over $10,000, and while many people plan for the future with term life insurance, many do not think of adding an accidental death benefit rider. Although these same people may indeed have other insurance, the additional protection of an accidental death benefit rider is not their highest priority.

It's important to have riders on your insurance policy that provide an accidental death benefit. Depending on the nature of your employment, you may wish to increase this benefit to three or four times the face value of your policy in order to assure your family's security. You need to look at your lifestyle before you make a decision one way or another, and though everyone is likely to be subject to accidental death, some occupations are more accident prone than others. Your occupation also will determine how much accidental death benefit is necessary.

4 . Choosing A Provider

Unless your employer provides accidental death benefit insurance, you may typically think your current life insurance carrier is the best choice for an accidental death benefit rider. Certainly, there is some benefit in choosing someone with whom you are familiar, but there is also good reason to make inquiries of others in the industry, as well. When adding any new insurance, you want to make sure you have the best possible coverage, even if it means having a different carrier for different types of insurance. There was a time when an insurance company would fight to keep your business, but with the larger population today, they know when they lose one customer, they will gain another, so they are less likely to match the quotes of competitors than when our parents and grandparents were buying insurance.

You must take the time to make inquiries of more than one insurance carrier in order to find the right provider. You need to know what you want and what you expect of the company you choose. Most accidental death benefit riders carry at least double indemnity. However, if you work in a field that may place you in a dangerous situation on a daily basis, you may wish to find a carrier that offers triple indemnity or more. People expect you to die some time after you retire and plan accordingly, but accidental death is never expected.
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