What Accidental Death Insurance Covers and Why You Need It?

Accidental Death Insurance

As the name suggests, accidental death insurance is a type of insurance that provides a benefit upon the death of the insured person. It’s a cost-effective option when compared to life insurance which covers death by any cause. Accidental death cover is significantly cheaper than life insurance because it only covers death by injury; you will not be paid a benefit if the cause of death is illness-related.

Another significant benefit that you need to know about when purchasing an Accidental Death insurance policy is that if a person suffers from a severe injury during an accident and they then pass away within 12 months of the accident, you are still eligible to receive the benefit.

Typically, the beneficiaries you choose on your policy will receive a lump-sum payment if you die in an accident. Accidental death insurance sums insured range from $10,000 to $1,000,000, depending on your circumstances on how much you wish to spend.

Insurance cover is, without a doubt, one of the best options for protecting your family if the worst were to happen. Many people lose their lives in accidents, which is very painful for their family members, both emotionally and financially. So, it’s always better to have some form of backup for your family. A good insurance cover might not support your family emotionally, but it will definitely set them up to be supported financially.

Accidental death cover is an excellent insurance product; it’s easy to apply for and is cheaper than life insurance. There are many reasons why you should get Accidental Death Insurance:

  1. To get Accidental Death Insurance, you don’t need to undergo any kind of medical exam. You won’t even have to mention your health conditions, which is why this policy is so appealing for people with pre-existing conditions who are having a hard time finding affordable life insurance.
  2. Another great benefit of this insurance is your application won’t be rejected because of your health. If you meet the age requirements, i.e., Between 18 to 65, you are eligible to get this insurance.
  3. Also, it’s the quickest insurance cover that you can get as there are no lengthy questionnaire forms to fill out and no medical exams to take. You can get the approval for this policy within a matter of minutes from an insurer who offers online accidental death insurance quotes.

If you want to purchase accidental death insurance in Australia, some insurers may ask you to do various medical tests or attend meetings and discussions with an insurance agent. However, there are some insurers like Aspect UW who can save you from all this hassle. They offer a quick online accidental death insurance quote, which you can purchase from anywhere in Australia. You will receive an upfront quote and breakdown of the costs to get a clear visualisation of what you are paying for and what benefit you will receive.

You can either take out a stand-alone accidental death cover quote or combine it with income protection, trauma or total permanent disablement cover, to make your life even more secure. You don’t have to go through any calls or meeting, get fully covered within hours with a completely online process.

It is essential to recognise that Accidental Death cover is not a replacement for Life Cover. However, it can be additional to any life cover you have. So, if you were to die of an injury, both your life & accidental death policies would respond.

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