What Does an Accidental Death Insurance Plan Mean?

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Accidental death insurance can be purchased as stand alone coverage in addition to being coupled with life insurance. Learn about what an accidental death insurance plan covers with help from the president of The Stratford Financial Group, Inc. in this free video clip.

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Hello, I'm Jeffrey Ingalls, president of Stratford Financial Group, and Stratford Employer Services in Wayne, New Jersey, and right now we're going to talk about, what does an accidental death insurance plan mean? Accidental death insurance can be purchased as a stand alone coverage, but typically, it is coupled with life insurance as a rider. It can be purchased on an individual basis, or it can be purchased as part of an employer sponsored group insurance program. When you buy a life insurance policy, you can often buy an accidental death and dismemberment rider, which provides an additional payout to your beneficiary if you die as the direct result of an accident. The payout is often two to three times the value of the insurance policy, and is also referred to as double or triple indemnity. Accidental death insurance usually contains a lesser benefit for dismemberment, which would provide the scaled-back payout for the loss of a body part, such as an eye or a leg. My name is Jeffrey Ingalls. I'm the president of Stratford Financial Group, and Stratford Employer Services in Wayne, New Jersey. We can be found online at www.stratfordlink.com, and you just watched, what does an accidental death insurance plan mean? Thank you.

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