We often get asked about the difference between accidental death & dismemberment (AD&D) insurance and life insurance. The short answer is that AD&D insurance covers fewer events in life, but it’s less expensive to get. AD&D benefits also pay out after a serious injury–more on that later– and not just after your death. So, do parents need AD&D insurance?
Accidental Deaths in Parents
Accidents are the fourth leading cause of death for all Americans. BUT, they’re the first leading cause of death for all adults under 45.
This makes sense when you think about it. When you get a bit older, you’re much more likely to get heart disease and cancer. For parents, with younger kids this makes an AD&D insurance policy a smarter bet.
Your risks become even higher the more you work in physical careers, have exciting hobbies or even just drive a car often. It’s not surprising that adults under 54 also happen to drive the most each year–by a lot.
Why Parents Choose AD&D Insurance
One of the benefits of AD&D insurance for parents is that they can get a much higher value policy than they can with life insurance. At Avibra, we’re able to offer $20,000 of AD&D insurance for just $1/week. For the same price, you can get $5,000 of life insurance.
The good thing is that you don’t have to choose one or the other. Many parents need AD&D insurance as well as life insurance to protect their family.
Living Benefits of AD&D Insurance
That second “D” in accidental death & dismemberment insurance may sound a little off-putting, but it’s important. One of the major benefits of AD&D is that you can get a payout after you survive a major accident. Losing a limb, your eyesight or the ability to move around freely is a life-changing experience. Many people lose income while they’re also drowning in medical bills. For parents, that experience can have even more difficulties. Having a financial safety net can help lay the groundwork for an easier transition to a new lifestyle.