Policy Types

Should I Buy An Accidental Death Insurance Policy Instead Of Standard Life Insurance?

If your job involves high risk, an accidental death policy is something you may want to consider. Protect yourself and your family as you insure yourself against any unexpected loss.

Accidental Death Insurance Policy

Benefits of an accidental death insurance policy

An accidental death insurance policy is not the same as standard life insurance. In fact, there are specific key differences between accidental death insurance and life insurance. Here's what you need to know.

Key differences

Accidental death insurance can be found as a single policy, but it's more commonly packaged together with an accidental death and dismemberment (AD&D) insurance policy. Much like a standard life insurance policy, an accidental death policy pays a death benefit to your beneficiaries, but as the name suggests, only provides coverage in the event you die due to an accident.

The dismemberment part comes in if you were to lose a limb(s) as a result of an accident. In this case, an AD&D policy will and generally will pay out a predetermined amount as specified in your policy.* Simply put, accidental death insurance is a very specific as to what it will and will not cover. With life insurance, you'll have coverage for incidences of death as outlined in your specific contract - accidents included.**

Buying an accidental death insurance policy

If you're concerned about accidental death, work in a potentially hazardous occupation, or engage in risky hobbies or sports, accidental death insurance or an AD&D policy might be one way to insure against an unexpected loss.

Accidental death insurance may be purchased as a stand-alone insurance policy or more typically, packaged together with dismemberment insurance as part of an AD&D policy. Your employer may also offer coverage as part of your benefits package. Coverage may also be added onto a standard life insurance policy in the form of a rider. Therefore, if you were to if you die in an accident, your life insurance policy would pay extra in addition to your policy's death benefit.

Keep in mind that while accidental death insurance can be very affordable, it's very limited and doesn't provide the broad protection of a standard life insurance policy. For these reasons, this type of policy should be used as a supplemental benefit and not as stand-alone life insurance coverage.

*Some AD&D policies include coverage for a complete or partial loss of vision, hearing, and speech as a result of an accident.
**Life insurance policies typically pay for most causes of death, exceptions will be specified in your contract. Policies will vary.

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All Learning Center articles are general summaries that can be used when considering your financial future at various life stages. The information presented is for educational purposes and is meant to supplement other information specific to your situation. It is not intended as investment advice and does not necessarily represent the opinion of Protective Life or its subsidiaries.

Learning Center articles may describe services and financial products not offered by Protective Life or its subsidiaries. Descriptions of financial products contained in Learning Center articles are not intended to represent those offered by Protective Life or its subsidiaries.

Neither Protective Life nor its representatives offer legal or tax advice. We encourage you to consult with your financial adviser and legal or tax adviser regarding your individual situations before making investment, social security, retirement planning, and tax‐related decisions. For information about Protective Life and its products and services, visit www.protective.com.

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Differences Between Death Insurance and Life Insurance

With the many different types of life insurance, figuring out what you need can feel overwhelming. At Protective Life, we want to help you better understand your choices in life insurance so you select a policy that's right for you. This article looks at what a death insurance policy is and how it differs from a standard life insurance policy. For more information, visit the Protective Life Learning Center.