Accidental Life? AD&D

[myinsurebiz]

Sure. Nearly every non-insurable prospect for traditional life insurance - as long as they don't have HIV (usually that's a qualifying question, even though this is an AD&D policy).

Keep in mind that this coverage is CHEAP and probably not worth your time to pursue except as an additional add-on sale.

I sold 4 this week. 2 alongside some Term / SIWL and 2 stand alone.

Advanced over $800 on the week + created $160 a month Pass Thru Commissions.

2 Stand Alone's took like 45 minutes each including the Presentation and Eapp . . .

 

[myinsurebiz]

If you sell it right, they won't forget that it is accidental death insurance.

For people who are really sick or really overweight, it is their only option.

Also, accidental death is the #1 cause of death up to age 45. It's worth discussing with a client if there budget is tight. It's a good way to get a client and then follow up with them later for a guaranteed payout plan.

#3 for 45 to 64 . . .

 

[myinsurebiz]

I used cancer as an example because the discussion was about writing Accidental Death for those that couldn't qualify for for traditional life insurance. You said Accidental Life was their only option. Even with cancer, there are better options than Accidental Death.

I don't understand what agent contracting has to do with it.

I'll say it again, if a person has cancer or any other deadly disease...how much good is an Accidental Death policy going to do them?

Personally, I'd rather have a $25,000 Modifiied whole life policy than a $100-$400K policy, especially if I had a serious illness.

They can get both . . .

 

[myinsurebiz]

n fact, you are more likely to sell accidental death coverage to young healthy people because that is the way they envision themselves dying... Not so for those that are seriously ill.

My experience has been exactly opposite. Young and Healthy can get regular Term just as cheap as AD.

The sweet spot it seems is 40 to 55 . . .

 

[Tahoe Ray]

Mutual of Omaha & Foresters have good plans as well.

Now for comparison, I am not aware of any quote engines for Accidental. Just use a carrier that you're familiar with.

I know that you posted this 6 months ago (so it may have been true at that time) but ninjaquoter now has this functionality.

 

[Life Underwriter]

What companies do you use for this? How do they compare via benefits, rates, etc?

AD&D is a terrible plan. It's a complete ripoff. If a company provides it to you free of charge, sure take it. Otherwise, you need actual Term Life Insurance in force. Whether you die by accident or natural causes doesn't change the actual need for insurance.

Adequately insure yourself for the amount you need that will pay under any circumstance (Natural or Accidental Death).

 

[WinoBlues]

AD&D is a terrible plan. It's a complete ripoff. If a company provides it to you free of charge, sure take it. Otherwise, you need actual Term Life Insurance in force. Whether you die by accident or natural causes doesn't change the actual need for insurance.

Adequately insure yourself for the amount you need that will pay under any circumstance (Natural or Accidental Death).

AD&D is a value if you die in an auto accident. Term is horrible if you die at the average mortality age.

To many 'ifs' in this business for absolutes. IMohsoHO

 

[rousemark]

I can't count the number of people that I know of that have died with no insurance or those that feel forced to buy very high priced FE insurance to insurance their kids don't have to go into debt to pay for their funeral because they feel prey to the AL Williams "termites' in the 70s -80s.

 

[myinsurebiz]

AD&D is a terrible plan. It's a complete ripoff. If a company provides it to you free of charge, sure take it. Otherwise, you need actual Term Life Insurance in force. Whether you die by accident or natural causes doesn't change the actual need for insurance.

Adequately insure yourself for the amount you need that will pay under any circumstance (Natural or Accidental Death).

No it's not if sold properly . . .

 

[Life Underwriter]

No it's not if sold properly . . .

That's just a mind blowingly goofy statement. If you need insurance, you need insurance. It's not as if someone needs insurance if they get hit by a bus, but not if they die of cancer.

The way some people rationalize terrible products is absolutely insane.