Life insurance is a topic few people want to talk about but is a critically important financial decision and responsibility.
Life insurance is tool to protect your loved ones in the case of your demise. With life insurance, if you were to die, your beneficiaries would receive a financial benefit. You pay a monthly rate to keep the policy active and the value of your policy is paid out to the people you designate when you die. In some cases, you can use a portion of your life insurance policy to pay for medical and living expenses if you are terminally ill.
While life insurance protects your beneficiaries in the case of your passing, there are other important insurance coverages to consider to protect you and your family. One of the most essential is accidental death and dismemberment (AD&D) coverage.
When choosing the right insurance, whether life or accidental death and dismemberment Lexington SC residents can trust Palmetto Citizens Federal Credit Union for all their important financial decisions.
AD&D insurance offers a benefit for covered accidental injuries such as loss of a limb, loss of speech, hearing or sight, or even losses of a finger or thumb. It also provides coverage for loss of life as a result of an accident.
In some cases, AD&D insurance is covered as part of your life insurance policy. You can also purchase a separate policy that covers these circumstances. In the case of an incident, you would be covered by both the life insurance policy and any additional AD&D insurance you buy.
When should you consider buying AD&D insurance? If you travel often or have a particularly hazardous job or hobby, then having AD&D insurance gives you and your family extra protection and coverage in case something goes wrong. If it does, you’ll have funds to pay for medical treatment, rehabilitation, and to support yourself and your loved ones while recovering.
Choosing the right life insurance is very important to give you the protection you need. With accidental death and dismemberment protection, you’ll be doing the smart thing for you and the ones you love.
Palmetto Citizens Federal Credit Union is your resource for insurance and other financial needs. To learn more about how we can help you with your insurance decisions, contact us today.
