Watching the Olympics may inspire those of us with an adventurous spirit to venture off into another country to pursue a dream of mountain climbing in a place like Mt. Kilimanjaro in Tanzania.
Only those who are accustomed to walking or climbing long distances on arduous paths would be capable of under taking such an adventure. Mt Kilimanjaro has been the subject of a few suspense novels and motion pictures over the years and could inspire someone to visit this picturesque area.
Although no one would ever dream of experiencing a mishap while traveling, it would be a good idea to include insurance protection in the event of a unforeseen accident when we may travel. Just as we plan our financial security by purchasing life insurance, we need to consider an accidental death policy to plan for those times where we may have an accident while traveling.
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Accidental death or double indemnity benefits can be purchased as an individual policy or as a rider on a life insurance policy. Purchased as a rider, the covered person is insured in the event he/she dies as a result of an accident. The benefits payable would be twice the amount of the face value of the life insurance policy. For instance, if a person has a $25,000 life insurance policy, and a rider for the accidental death benefit, the beneficiary would collect $50,000 in the event that the covered person dies as a result of an accident. Some insurance companies have a provision where the covered person can elect the amount of the death benefit in multiples of $5000, not to exceed the face amount of the policy.
When the accidental death indemnity policy is a separate policy, the benefits are more inclusive. There is a provision in most policies for medical and other expenses incurred in the accident. However, certain types of activities may be excluded. Depending on the need, it would be worthwhile to investigate these policies.
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In conclusion, it would be wise to purchase an accidental death policy before traveling on vacation or on assignment.
Gail Cavanaugh is a licensed life insurance agent with the National Agents Alliance in Portsmouth, Rhode Island. If you have any questions, please call her at 877-697-2023.
http://www.gailcavanaughfinancial.com
877-697-2023
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