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Accidental Death Insurance Explained

accidental death insurance
Insurance Quotes 2 Day Team

Written By Doug Mitchell

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University, a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA and Top of the Table member of the Million Dollar Round Table (MDRT). Doug has spent close to 30 years in the insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health.  Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

Holly Mitchell  &

Holly Mitchell’s background in life insurance insurance goes back to 1985 when she worked for her father who was a New York Life agent. Holly has a marketing degree from Auburn University and has had a life insurance license since 2008. In addition to advising life insurance for customers all around the country, Holly is our website fact checker.

Rob Pinner   &

Rob Pinner is the founder and CEO of Pinner Financial Services servicing all 50 states. Rob started his insurance career in 2002.

Louis LaBash

Results-driven and innovative life insurance professional with 30 plus years of life insurance industry sales and marketing experience. Recognized as a pioneer in the field, leveraging phone and internet channels to exceed personal sales of over $100 million during the first decade of the 21st century. Creator of a highly effective intuitive IUL life insurance sales software that facilitated the sale of millions of dollars of indexed universal policies by numerous life insurance agents. Proven track record as a Managing General Agent (MGA), Life Agent, IUL Life Insurance Sales Software developer, and leading-edge creator of insurance marketing tools, educational content, and delivery systems.

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Accidental Death Insurance is truly a low-cost alternate choice to life insurance coverage. It is a method for individuals who might normally be declined to have life insurance if they were to die because of an accident. Keep in mind, however, there are a handful of traditional life insurance companies that offer guaranteed issue insurance which will cover everyone

Additionally, Accidental death insurance policies are an inexpensive way to add extra financial security in conjunction with a conventional life insurance product.

Accidental death insurance delivers an affordable safety net for your loved ones. Not only will you be covered for death due to an accident, but many plans also provide coverage for your family members.

The most significant benefit of accidental death insurance is that almost anyone can qualify and it’s super cheap compared to traditional life insurance.

What does Accidental Death Insurance Cover?


Accidental Death insurance covers the policyholder in the event of death resulting from a covered accident.

Furthermore, the great thing about it is you won’t have to medically qualify since there is no underwriting involved. There won’t be any medical questions or medical exams to worry about. Check out these benefits:

 Additional benefits vary by company, but may include the following: 
  • Your coverage is normally approved instantly
  • No medical questions to answer or pre-existing conditions to worry about
  • Available coverage is typically between $50,000 – $500,000
  • Eligible ages are 18 – 70-years old
 And with most life insurance companies there are various other benefits to take advantage of: 

>Auto Safety Benefit – Pays an additional benefit when traveling as a passenger in a vehicle and wearing a seatbelt.
>Travel Accident Benefit – Typically pays twice the death benefit when using public transportation.
>Coverage for Family – You can easily add your spouse and dependent children to your policy.
>College Fund Benefit – The insurer pays an additional amount for each dependent if you die in an accident.

What is not covered in an Accidental Death Insurance Policy?


As with most life insurance products, there are exclusions, waiting periods, and contestability clauses that applicants should be aware of before committing to a particular company’s Accidental Death Insurance product.

Although companies vary on their list of exclusions, the most common exclusions are:

  • Death resulting from natural Causes
  • Death while an active member of the military
  • Suicide
  • Death while flying a private aircraft
  • Death that occurs while committing a felony
  • Death resulting from an overdose of non-prescribed drugs
  • Death while your blood alcohol is above the legal limit

Who should consider Accidental Death Insurance?


Like any life insurance product, Accidental Death Insurance is not for everyone. People who need it the most typically can’t medically qualify for traditional life insurance and can’t afford the excessive premiums charged for a guaranteed issue insurance policy.

It’s important to note, however, that accidental death insurance is very inexpensive and as such, it is an effective way to supplement your traditional life insurance policy. Accidentals happen and unfortunately can result in death. But you can remove most of the financial stress on surviving loved ones by leaving the money they’ll need to continue in their household.

Additionally, many banks and credit unions will offer new customers about $5,000 in accidental death insurance free of charge. Why would you throw that letter away?


How much does Accidental Death Insurance Cost?


Finding out your cost of Accidental Death Insurance is quick and easy. Below, we’ve listed the rates for a 30-year old male for a $250,000 policy:


Age of Applicant Monthly Premium
30 $21.34
35 $21.34
40 $19.58
45 $19.58
50 $22.22
55 $22.22
60 $22.22

As you can see from this rating chart, the rates for an Accidental Death Policy are much different than traditional insurance because rather than going up with age, they are based on the probability of death by accidental means for an age group.

Assurity’s Accidental Death Insurance


Assurity Life Insurance Company’s accidental death plan is one or our go-to carriers for accidental death insurance. The company takes this insurance seriously and is aware that for many consumers, accidental death insurance may be the only type of life insurance available to them.

Here are the highlights of Assurity’s LifeScape Acci-Flex insurance product:

Assurity LifeScape Acci-Flex  
Eligible Issue Ages 18 to 60-years old
Renewals Guaranteed to age 75
Face Amounts $50,000 to $350,000
Upgrade Policyholders can upgrade to conventional life insurance and receive a premium credit against the first year’s premium
Riders Available  
Return of Premium If the policyholder outlives the policy term, all premiums paid will be returned in a tax-free lump sum payment
Accident Disability Income A monthly benefit is paid if the insured becomes disabled due to a covered accident.
Disability Waiver Premium payments are waived if the insured becomes disabled and cannot work.

Mutual of Omaha Accidental Death Policy

Mutual of Omaha is our other go-to accidental death insurance carrier. Mutual of Omaha’s impeccable reputation and continual high ratings by the national rating services makes it an excellent provider of accidental death insurance.

Here is the product highlights for Mutual of Omaha

Mutual of Omaha Guaranteed ADvantage  
Eligible Issue Ages 18 to 70-years old
Renewable Guaranteed renewable up to 80-years old
Face Amounts $50,000 to $500,000
Benefit Reduction There is no benefit reduction at age 65
Return of Premium Rider If the policyholder outlives the term of the policy, all premiums paid will be returned in a tax-free lump sum payment.

As an independent insurance broker, we want to provide options for our clients and prospective clients. We offer Accidental Death Insurance from two companies, Assurity Life Insurance and Mutual of Omaha.

Although Assurity’s premiums are somewhat lower, Mutual of Omaha will insure to age 80 and has a $500,000 coverage limit versus Assurity’s $350,000 coverage limit.

Frequently asked Questions

Why is Accidental Death Insurance so cheap?

question mark icon

Accidental Death Insurance is much cheaper than traditional life insurance because claims are limited to death resulting from an accident.

Should I carry both accidental death and traditional life insurance?

med pay is considered no-fault

We recommend to our clients who are younger and spend more time working and traveling that they supplement their traditional life insurance with accidental death insurance since the rates are so low but the chances of death by accidental means is significant.

Can't I just add the accidental death benefit to my term insurance policy?

young family

Yes you can and we always recommend that you do since the cost for the rider is so inexpensive. If you want accidental death coverage for your family, however, you’ll likely need a stand-alone accidental death insurance policy.

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Doug Mitchell, CLU Independant Advisor
Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA. Doug has spent almost 30 years in the life insurance industry and has also held licenses to sell securities, long-term care insurance and home and auto insurance. Doug is a Top of the Table Million Dollar Round Table member (MDRT).  MDRT is a global, independent association of the world's leading life insurance advisors.  For two years, Doug served as President of the Auburn Opelika Association of Financial Advisors and has been a member of the Million Dollar Round Table. He obtained Life Millionaire status at Horace Mann Insurance Company and was awarded the Life Agent of the Year Award. Later in his career with New York Life he was an Executive Council Member. Doug currently serves as President of Ogletree Financial, a managing general agency serving life insurance agents and clients in all parts of the United States. Today, Doug’s main focus is servicing 1000s of policyholders and growing the agency through the reach of

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