Many of us need the peace of mind that comes with knowing that you have insurance in place to protect you and your family if something unexpected happens and the good news is that there are lots of insurance options to choose from.
However, life insurance and critical illness cover are different from disability insurance and it would be wise to appreciate the options available so that you have all of the bases covered in terms of protection.
When you buy term insurance, for instance, you know that you are insuring against the prospect of death before you reach a certain age, so that your family is taken care of in your absence.
As well as taking out an online term plan for life insurance it would also be a good strategy to look at accidental disability insurance. Here are some reasons why accidental disability cover could work for you and your family.
Understanding the difference
The first point to make is that there are main types of accidental disability insurance cover to consider.
You can either buy this type of cover in isolation or look at adding it as a rider on other types of policies such as a standard life insurance policy.
Accidental death or disability
If you have life cover in place you know that your financial obligations will be settled out of the proceeds when the policy is triggered by your death.
One issue to consider is that you could find yourself in an unfortunate position of being unable to work as a result of suffering a disability, but having no money to be able to pay all the bills.
Accidental disability insurance will potentially pay you up to 60% of your regular income for a defined period while you focus on rehabilitation.
Extra protection if your job puts you at risk
If you spend your days working on a building site, for example, the odds would appear to suggest that you are more likely to suffer an injury that prevents you from working in this type of job compared to someone who works in an office.
It, therefore, makes sense that if you rely on a regular income to run a household you should look at your options to insure against the loss of income that will follow if you are unable to work and earn a salary.
More likely to get accepted
It is not always that easy for some people to get so-called traditional life insurance cover but you should stand a better chance of being accepted if you apply for accidental cover.
You should find that you are asked only a minimal amount of questions when you apply for accidental disability cover and there is a good chance you won’t be asked for medical records either.
It should be noted that personal accident and disability insurance cover is often cited as being more affordable than a traditional life policy.
Insuring against accidental disability is a great option to consider as it offers a way to get coverage when you can’t afford an alternative option or don’t qualify for a simple life policy.
When you consider what is a stake there are numerous reasons for suggesting that insuring against accidental disability could be a smart move for you and your family.