Not Your Typical Accidental Death Insurance
In my experience, when suggesting accidental death insurance to a life agent, the idea is usually met with contempt. Many life brokers I have encountered scoff at the insinuation that “accident only” coverage is a valid or appropriate option for their life insurance clients – “it is simply a rider to a proper life policy or a small ancillary benefit providing double indemnity for those foolish enough to purchase the worthless product.” To the shortsighted, full accident and sickness life insurance is the only answer whether it be term or some form of whole-life insurance. Now I agree that life insurance is usually the best solution in most circumstances and when available to a client, but from time to time, a robust AD&D policy better fits, is much more affordable and is at times the only answer to certain financial protection needs.
For example, U.S. residents frequently traveling outside the country for business or those living overseas on a temporary or permanent basis have a tough time finding any life insurance options through domestic carriers. Even European markets have in recent years backed away from the expat international life segment, making it difficult for Americans to acquire protection while they are abroad.
Aside from international risks, persons with physically hazardous occupations, and those that participate in extreme sports or high-risk activities are also at a loss when it comes to life insurance.
Annoying declinations from traditional life sources also occur because of any number of common issues like impaired health risks, drug and alcohol concerns, mental/nervous issues, less-than-perfect driving records and criminal or adverse financial histories.
Also, short-term coverage needs for vacations and business travel sometimes require quick policy issuance that traditional life policies don’t afford especially when life insurance underwriting can take weeks if not months for completion.
The appropriate solution to all of these dilemmas and underwriting hassles is high-limit accidental death insurance including coverage for acts of war and terrorism with comprehensive benefits while anywhere in the world, not to mention exotic locales and even war zones.
Standard accidental death coverage through domestic carriers isn’t sufficient. AD&D insurance from Petersen International is flexible, requires minimal underwriting and can be purchased and bound in a matter of hours, allowing for benefits from $25,000 to $100,000,000 per person. In addition to the standard death benefit, the product platform offers options of dismemberment benefits as well as permanent disability payouts. And the policies can be structured on individual or group chassis.
Common uses include those traveling to or working in the Middle East and Africa, clients with health issues who are uninsurable with life companies, persons needing coverage for special events, private and professional pilots, skydivers and those simply wanting extra accident coverage on top of their existing life plans.
The High-Limit Accidental Death Plan from Petersen International is the ultimate broker’s tool for so many different life insurance shortfalls. Contact our life department at (800)345-8816 for a sample quote and an outline of coverage.