What Is Accidental Death & Dismemberment Insurance?

Accidental Death & Dismemberment (AD&D) Insurance helps pay a lump sum in the event of a covered accident. Specifically, these covered accidents are ones that could not be foreseen and are fatal or dismembering. Deaths that come due to prior medical conditions are not covered under this accidental death and dismemberment policy. hy Employees Need Accidental Death & Dismemberment Insurance

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. Along with life, disability and critical illness benefits, AD&D insurance can help round out a comprehensive benefits package. Access to a full range of protection solutions can help attract and retain top employees.

What Does Accidental Death & Dismemberment Insurance Cover?

Accidental Death & Dismemberment insurance policies (AD&D) provide benefits for covered accidents that result in 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

AD&D applies in the event of a covered injury, paralysis or death resulting from a covered accident, There are plenty of plan options available.

• Benefits are payable for losses that occur within 365 days of the covered accident.
• Plans are available on an employer-paid, voluntary and standalone basis.
• A variety of options are available to choose from, including high coverage limits and no medical underwriting necessary.
• Is Accidental Death & Dismemberment Insurance Flexible? h3
• In addition to the standard AD&D plan, there are enhanced and premium plan designs and services that can be customized to best suit the specific needs of each company.

The following optional benefits are also available with AD&D Insurance:

• Accelerated Death Benefit
• Accident Hospital Income
• Adaptive Home and Vehicle Benefit
• Anti-Inflation Benefit
• Bereavement Counseling Benefit
• Child Education Benefit
• Coma Benefit
• Common Disaster Benefit
• Critical Burn Benefit
• Day Care Benefit
• Funeral Expense Benefit
• HIV Occupational Accident Benefit
• Loss of Use Benefit
• Newborn Coverage
• Newlywed Coverage
• Paralysis Benefit
• Permanent Total Disability
• Rehabilitation Benefit

Lallis & Higgins Insurance makes it easy for brokers and employers to find the right coverage. Connect with us today.

Hanover

To protect yourself from some of the perils of college, we would recommend you have insurance for both your car and rental home. Car insurance is mandatory in Massachusetts, while renters insurance is strongly encouraged. Luckily, you can save on both by bundling your purchase with one insurer. Most large companies offer solid discounts ranging from 3% to 10% for those who get both a rental and auto insurance policy with them.

How to Bundle Your Auto and Rental Insurance Policies

Bundling two policies is quite simple: When you're shopping for a renters or car insurance quote, the company will usually ask you if you would like to bundle your policy with the other. If you currently don't have either policy, you have the flexibility to go to whatever company suits you best. It is more likely you will already have a car insurance policy however, since auto insurance is mandatory mostly everywhere. In that case, you can just obtain a renters quote from your company and see how much of a discount you would receive.

If you plan to purchase renters insurance, it may be worth investigating a quote with insurers who offer bundling discounts to see if you can get a lower overall price for your insurance. Even if you already have both auto and renters policies, you should shop around to see if you can find better rates. In fact, your shopping may lead you to conclude you don't even need to bundle. Bundling policies with the same insurer is most likely to provide the biggest discounts, but you should always compare quotes, as it's possible that independent policies with two different insurers could provide you the best combination of price and coverage.

Even if your current auto insurance company offers bundling, you should not assume they offer the lowest cost policies around. In major cities, where most renters reside, the difference between the costliest and cheapest insurance company averages over $3,000. We encourage every car insurance customer to shop around for new insurance at least once every two years, and this biennial search is the perfect time to look into the possibility of buying a renters insurance policy to bundle and save.

Should You Bundle Your Car Insurance and Renters Insurance?

As a general rule, it only makes sense to bundle auto and renters insurance if your new price will be less than what you are currently paying or you can't find a cheaper deal by going with two different companies.

However, outside of the discount, there a several advantages to insurance bundles you should consider when making your decision. The first one is a stronger relationship with your insurance company. Should you run into some bad luck and have a couple accidents in a short amount of time, your company will be less likely to drop you if you have a secondary policy with them. There is also a convenience factor of receiving one bill for both insurance policies when you're a multi insurance customer. In addition to more competitive prices, these factors likely contribute to the finding of auto insurance company customer satisfaction that customers with bundled policies tended to be more satisfied with their company than those who don't bundle insurance packages.

For more information on bundling car insurance and renters insurance, contact Lallis & Higgins Insurance.

Source: valuepenguin.com