Accidental death and dismemberment plans have been around for a long time. Often an add-on to another insurance policy, they can be valuable in certain situations. However, to a high-income earner, the face amounts are relatively small. A high limit accidental death insurance plan can be attractive to these individuals by providing larger payouts that are a better reflection of his or her income.
Do You Need a High Limit Accidental Death Insurance Policy?
Most carriers will offer you an AD&D (accidental death and dismemberment) policy with a maximum amount of around $400,000 or so. For most income earners this limit will work. However, for those who are high-income earners, this is simply not enough coverage.
Lloyd’s of London via Petersen International, a coverholder for Lloyd’s, offers plans only limited by up to 10X someone’s current income. However, if justified, higher amounts can be offered.
These plans can also be structured to cover special situations, such as 24-hour travel, war zones, hazardous jobs, high-risk avocations, groups, etc. The bottom line is this, if you need a plan, for almost any situation, give us a call and we will discuss your specific needs with our carriers.
Accidental Death and Dismemberment Benefits:
Accidental Death – 100% of the Benefit
Loss of or loss of use of two or more members – 100% of the Benefit
Loss of sight of both eyes – 100% of the Benefit
Loss of or loss of use of one member – 50% of the Benefit
Loss of hearing of both ears – 50% of the Benefit
Loss of speech – 50% of the Benefit
Loss of sight of one eye – 50% of the Benefit
Accident permanent total disability – 100% of the Benefit
You can apply online via our quote form.
There are no medical exams and coverage can be in place within 24 hours.
Contact us today for a confidential discussion about your needs. Our toll-free number is 888-636-2310.