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Life and Accidental Death and Dismemberment Insurance

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First State Agency/ life and accidental death and dismemberment insurance

Life and Accidental Death and Dismemberment Insurance Provided By Our Agency

Unlike Workers’ Compensation, which covers only work-related accidents, AD&D insurance applies wherever covered accidents happen, such as at home or on the road for your employees.

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Safe driver benefit
Child care benefit
Elder care benefit
Productivity & Absence
Employee value

Safe driver benefit coverage

Risk Factors

An employee may meet with an accident while returning home from your office. Unfortunately, the employee dies, and their family suffers.

Solution

Your beneficiary may receive an additional 10% of your benefit amount (up to $25,000) if you have a covered fatal car accident and are wearing a seat belt. In addition, this benefit will increase by 15 percent (up to $40,000) if the car you were riding in or driving also has factory-installed airbags that inflate properly upon impact.

Child care benefit coverage

Risk Factors

Your employee dropped their child to school and met with an accident on the way to the office.

Solution

If you have children under 13 and you die in a covered accident, a child care benefit of an additional 3 percent of your benefit amount (up to $2,500 per year) for up to six years may be payable to the person who has incurred the cost of daycare expenses.

Elder care benefit coverage

Risk Factors

Your employee passes away in an accident while their mother is the only family member left behind. She may need some assistance.

Solution

The beneficiary may receive an additional 5 percent of your benefit amount (up to $5,000) if you die due to a covered accident. At the same time, an elderly relative depends on you for support and maintenance.

Productivity & absence coverage

Risk Factors

Your employee is mentally disturbed because they have a mother who needs his support throughout, and this would result in less productivity.

Solution

A study found that in one year alone, adults lose more than 164 million hours of work per year due to dental diseases. Offering dental benefits encourages employees to seek out preventive care early on and avoids workers taking off for unexpected illnesses, and increases productivity, on the other hand.

Employee value coverage

Risk Factors

If an employer fails to offer benefits to its employees, the employees don’t feel valued, which eventually decreases their productivity and causes them to start losing interest in the company.

Solution

If you offer good benefits to your employees, they feel happy that the organization values them. But, in return, they also work hard to deliver their best and make it better for all.

What is Life and Accidental Death and Dismemberment Insurance?

Life and Accidental Death & Dismemberment Insurance helps pay a lump sum in the event of a covered accident. Expressly, these covered accidents could not be foreseen and are fatal or dismembering. This accidental death and dismemberment policy do not cover deaths due to prior medical conditions.

It’s a variation of life insurance that only pays out if the death is from an accident (or, in some cases, homicide). It usually only pays out if the premiums are paid, just like a term life insurance.

What does Life and Accidental Death and Dismemberment Insurance usually cover?

Accidental Death & Dismemberment insurance policies (AD&D) provide benefits for covered accidents that result in a fatality, paralysis, the loss of a limb, eyesight, hearing, speech, and more. An AD&D plan may include coverage for employees only or employees and dependents and typically provides 24-hour coverage no matter where a covered accident occurs, whether at work, home, or away for:
  • Loss of Life
  • Loss of Speech
  • Loss of Hearing
  • Loss of a Hand, Foot or Sight
  • Loss of Thumb and Index Finger on Either Hand
  • Loss of Movement

Advantages of Life and Accidental Death and Dismemberment Insurance

Accidents are the third leading cause of death in the United States. An accidental death impacts the surviving loved ones emotionally and financially as they now deal with the sudden loss of income. The death benefit from an AD&D policy can add peace of mind by lessening that burden.

If offered through an employer, participating employees may realize a cost of a few dollars per month. However, even when purchased individually, the prices are considerably less than rates for term insurance offering the same face amount.

Suppose your company has employees who work with dangerous machinery or on high-rise buildings. In that case, these types of insurance might be worth investing in as they can protect the lives of both employers and employees from accidents resulting from negligence.

If you’re interested in learning more about life and accidental death and dismemberment insurance, we encourage you to reach out to our employee benefits Professionals. We have helped many people determine if it is a good fit for their business!

Already have Life and Accidental Death and Dismemberment Insurance? Switching is easy

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.
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