What is an accident policy or an accidental policy?

Well, it’s not car insurance. It’s life insurance. It is a policy that’s built for certain circumstances to pay upon death. So it’s not a full coverage policy, but they’re really a wonderful policy because of their price. So they’re priced to be very economical.

And typically you can get 102 hundred 300 400 $500,000 in coverage. And typically you’re going to be looking at, let’s say a $300,000 policy for one person, it could be anywhere from $20 to about $60 per month. Now, there are some restrictions with this policy on when you can get one past the age of 70 typically you’re not going to be able to get an accidental policy.

It’s just not in the cards. It’s not based on your health. It’s based on your age. The other thing to be aware of is that these policies absolutely do expire just like a term, but rather than being a fixed length of time, they go until a certain age, so a lot of these policies are going to expire at 70 or 75 and then they’re gone forever and you can’t get them again.

Some companies, it’s like the companies I try to pull from, they’ll let you have your external policy until you’re 80 now there’s one other version of an external policy that’s going to be aware of if you are a younger, under the age of 60 under the age of 50. 50 is even better. But under the age of 60, you can get these policies.

There are return of premium accidental policies, and the way these work, it’s just like it sounds, you pay into it and then after a period of time, you can have all your money back. So it depends on the company. It depends on their, their accidental product. But for accidental life insurance policies, that are a return of premium, a lot of them, you’re going to go until age, let’s say 75 and then they’re going to give you every penny back.

That you ever put into the policy. So it’s a great way to go. Accidental life insurance policies, they’re fantastic. Very different from the term life insurance, full coverage policies, very different from the whole life insurance or final expense, or you know, burial insurance for seniors, those kinds of policies.

but those accidental policies, that kind of life insurance policy, they’re fantastic. They are an economical way to go. It’s also a great way to add additional supplemental insurance, you know, very. some would say a cheap way to, to add more insurance coverage, more protection for your family. And so it’s just a great way to go.

It’s a great policy. now if you have more questions, anything like that, any other life insurance related questions, please click the button below. Call me. anything I can do for you, a free consultation. I’m happy to help you. Stay safe out there.

 

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Chad McMahan

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