Does it pay to add accidental death benefit?

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PostPosted: Fri Oct 02, 2009 9:14 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

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PostPosted: Wed Oct 07, 2009 8:40 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.


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PostPosted: Tue Nov 16, 2010 4:02 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!


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PostPosted: Tue Nov 16, 2010 9:35 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.



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PostPosted: Tue Dec 28, 2010 6:35 pm   Post subject:   

Quote:
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).


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PostPosted: Sun Nov 27, 2011 5:51 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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PostPosted: Mon Nov 28, 2011 7:30 pm   Post subject:   

Quote:
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.




Who cares about risk factors? If your family needs the money if you get hit by a car, they also need the money if you have a heart attack. If coverage is needed, by coverage. If it isn't needed, don't waste your money.

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