If you have Term Life Insurance do you need to purchase Personal Accident Insurance as well?

Answer 1

I like the following answer. Check with your state insurance commissioner and get the brochure. Read about the exclusions. At last count, it was at 15. I always advise: stay away from accidental death. Too many variables. Too many chances for the insurance company to not pay, and too few for the Survivor to collect.

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No. In fact there have been studies that clearly show accidental death insurance is nothing more than a profit maker for the insurance companies that sell it. Very few people die in an accident. If you need insurance buy insurance, but don't ever count on accident insurance to meet your familes insurance needs.

AnswerTerm Life insurance is usually low cost and therefore does not include coverage against personal accident insurance. You will need to purchase Personal Accident Insurance separately. Certain whole life policies may ride personal accident insurance. You would need to shop around for free riders like this. Make use online insurance companies who can easily help you search for these.