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Accidental death rider in Term life insurance
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01 May, 2023
by Sandip B
If I am already buying a term insurance with a good enough cover that might fulfill my needs. I have already taken WOP & Critical illness riders. I do no understand the logic behind Accidental death rider.
- Do you actually need AD rider if you already have a good enough cover
- What are the cases where one should but AD rider?
- Who should/shouldn't buy AD rider?
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Dear Sandip
Interesting question .
Probability of death by accident is 3 time higher and probability of accidental disability is 7 time higher .
Hence , the most important risk is disability which should be covered and ypu do not have it .
If you are adequately covered for death then you don't need additional cover but you need disability cover .
1. You don't need accidental cover
2. You should buy accidental cover if you are in accidental prone area or circumstances.
3. Every one should buy accidental cover .
Best wishes
Shailesh
Insurance Samadhan