Acc Death Benefit Rider

[PhxSunsFan]

I know many agents automatically include this in their quote and then explain the benefit as if its included.. etc and is a good thing.. is this rider always a good thing? wondering how many agents auto include this when quoting? worth the expense, especially when a replacement might tip things over when going up against the lowest priced carriers that are only f2f? ( doing telesales only)

 

[adjusterjack]

The accidental death benefit is a cash cow for the life insurance industry. You are at least 16 times more likely to die from disease than from accidents and the odds grow even longer depending on the type of accident.

See:

Odds of Dying - Injury Facts (nsc.org)

Yet, accidental deaths do happen and the rider is cheap enough so that the buyer doesn't often mind paying a little extra for it.

Same goes for disability waiver of premium.

You might try quoting just the base policy with the options in small print at the bottom of the page.

 

[jdeasy]

I know many agents automatically include this in their quote and then explain the benefit as if its included.. etc and is a good thing.. is this rider always a good thing? wondering how many agents auto include this when quoting? worth the expense, especially when a replacement might tip things over when going up against the lowest priced carriers that are only f2f? ( doing telesales only)

I never just quote it in with the premium. If a company offers it then I will ask if they want it but tell them I would recommend adding coverage over buying the rider. If someone really wants some AD&D I'll recommend a stand alone AD&D $50K for $5/mo or $100K for $10/mo.

 

[rousemark]

The accidental death benefit is a cash cow for the life insurance industry. You are at least 16 times more likely to die from disease than from accidents and the odds grow even longer depending on the type of accident.

But the premium for ACC death is about 16 times higher than the premium for natural death. No forget the based life premium also includes a rate for accidental death as well as natural death.

 

[rousemark]

The accidental death benefit is a cash cow for the life insurance industry. You are at least 16 times more likely to die from disease than from accidents and the odds grow even longer depending on the type of accident.

See:

Odds of Dying - Injury Facts (nsc.org)

Yet, accidental deaths do happen and the rider is cheap enough so that the buyer doesn't often mind paying a little extra for it.

Same goes for disability waiver of premium.

You might try quoting just the base policy with the options in small print at the bottom of the page.

19 of the 24 items listed would be considered accidental..

 

[myinsurebiz]

[QUOTE="jdeasy, post: 1408402, member: 3260" If someone really wants some AD&D I'll recommend a stand alone AD&D $50K for $5/mo or $100K for $10/mo.[/QUOTE]

Which carrier(s) ?

 

[myinsurebiz]

But the premium for ACC death is about 16 times higher than the premium for natural death. No forget the based life premium also includes a rate for accidental death as well as natural death.

ACC 16 x higher? Not possible.

 

[jdeasy]

[QUOTE="jdeasy, post: 1408402, member: 3260" If someone really wants some AD&D I'll recommend a stand alone AD&D $50K for $5/mo or $100K for $10/mo.

Which carrier(s) ?[/QUOTE]


Gerber

 

[rousemark]

ACC 16 x higher? Not possible.

OK, so I was stretching it just a bot.. .. However, it is several times higher and the base rate does include coverage for accidental deaths..

Overall, accidental deaths account for 6.1% of the deaths in the US. Falls are the #3 cause of accidental deaths with deaths from falls among the age 65 group skyrocketing, so more older people die from accidents than one would assume.

 

[myinsurebiz]

OK, so I was stretching it just a bot.. .. However, it is several times higher and the base rate does include coverage for accidental deaths..

Overall, accidental deaths account for 6.1% of the deaths in the US. Falls are the #3 cause of accidental deaths with deaths from falls among the age 65 group skyrocketing, so more older people die from accidents than one would assume.

Accidental Death is #1 cause of death in some age brackets and #3 in some others . . .