Accidental Death insurance is an easy and low cost option for life insurance. It provides a lump sum benefit in the event that death occurs as a result of an accident. According to insurance companies, an accidental death is the result of a physical injury, caused solely and directly by a unexpected, violent and external means. The accident must not have anything to do with your mental or physical health before the event. Common causes of accidental deaths include car accidents.
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In most instances accidental death insurance is not medically underwritten, which means people who have suffered a health problem in the past are able to get this cover without any exclusions or loadings placed on their policy. This generally means lower premiums.
Who Needs Accidental Death Insurance?
Accidental death is a great product to consider for younger Australians, who are at a greater risk of suffering an accident and passing away than older generations (Australian Bureau of Statistics, Causes of Death in Australia: 2008).
Acceptance for an accidental death insurance application is guaranteed, and cover is available up to $1,000,000 and will protect you until the anniversary before your 99th birthday.
Premiums can be as low as 80 cents a day, so it's well worth contacting Lifebroker on 1300 20 40 50 to get more information.