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The two most common forms of life insurance policies are term life insurance and whole life insurance. The names are remarkably apt. A term life insurance policy lasts for a set period, say 10 years. If you die during that 10-year term, the policy will pay. If you don t, it expires and that s that.

A whole life insurance policy lasts for your whole life. You absolutely will die during the policy period for a whole life insurance policy. Although most insurance company will pay you the benefit before you die, if you live to be 100.

Typically, term life insurance provides protection for a period of from one to 20 years. The best way to think of term life insurance is as temporary insurance. A whole life policy is permanent insurance.

Term products usually are used when you have a temporary need, such as a mortgage, business obligations or a particular need for income when your children are young. Whole life products are effective when you have a permanent need, such as to supplement you (more...)

Adding an accidental death and dismemberment rider to a term life policy is an ideal way for those who need extra protection to get combined and comprehensive coverage.

Accidental death and dismemberment riders are also known as “A D &amp D Riders” as well as “Multiple Indemnities.” Multiple indemnities mean that an insurance company will pay a multiple of the policy s face value. This is the amount that the policy would pay to the beneficiary in the event of the death of the insured person.

One common example of indemnities is double indemnities. This pays an equal amount to the face value of the policy so if the insured person dies in an accident, the beneficiary receives the policy face value and the A D &amp D Rider face value, which is twice as much as the original amount.

Additional Occurrences Covered by an A D &amp D Rider

Depending on the rider coverage you choose to add to your term life insurance policy, A D &# (more...)