The loss of a loved one under any circumstance is a tragedy, but even more so when the death is an accident. To keep bereaved family members from having to figure out end-of-life costs in addition to dealing with the shock and grief associated with accidental death, Fidelity Life offers an accidental death insurance policy. This policy ensures coverage after an accident within 90 days of the accident’s occurrence.
Accidental death policies are not to be confused with final expense policies. While the purpose is generally the same, an accidental death policy only covers applicants between the ages of 20 and 59, when people are statistically most likely to engage in higher-risk behavior. The beneficiary can use the benefits to pay for anything, including the ensuing funeral and burial. The benefit payout is high, ranging from $50,000 to $250,000. Potential buyers are advised to consider that unlike funeral or burial insurance, the benefits decrease by 50 percent at age 70 and that the policy expires at age 80. Fidelity Life also provides riders to extend coverage to spouses and children who are still under their parents’ care. The cost of this coverage can be as low as $10 per month, although it should be noted that that figure is derived from a survey of young to middle-aged men and women who are non-smokers.
Some additional restrictions apply to this policy. Due to the hazardous nature of combat, military personnel are excluded from applying. Other deaths that, while unforeseen, do not fall under the category of “accidental death” include suicide and drug or alcohol overdose.
Fidelity Life provides a website with a phone number prominently displayed, encouraging potential buyers to speak to an agent and determine how best to meet their needs. Availability of coverage is dependent on the location of the applicant. Fidelity is licensed across the United States, with the exception of New York and Wyoming, which may complicate matters for applicants in those states.
Fidelity Life’s Accidental Death policy serves as a reminder that it is imperative to plan for the unplanned. Whether you work in a high-risk occupation or engage in extreme recreational activities, there is peace of mind that comes with knowing your loved ones will be covered in the event of your untimely death.