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crash41 | My mother is 69. She has a few accidental death policies - are they worth it to keep? It's about $15/month |
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Mark S
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Please get your mom out of these policies!!!
As the above respondent said, she is more than likely NOT going to die by accident. If she dies by any other means, they will not pay! Accidental policies help one person- the agent. Look at the escape clauses on the policy, I mean reasons why they won't pay. Just here are many reasons NOT to get this type of policy. |
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dances with unicorns
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At only $15 a month, I'd keep them. Sixty-nine is not old any more, and someone who's even remotely active, or who is in a car on anything like a regular basis is potentially a person who could die accidentally. |
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JB1977
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If you or your grandmother can swing the $15 a month, then keep it. If not, then drop it. But if you do keep it, get with a local agent and ask about a more comprehensive plan. |
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Insurance
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If she is a frequent traveller or involved in some job which is accident prone, than it is worth keeping.
An accident plan normally pays when the caused is due to an accident. Unlike life insurance , it will pay upon death meaning the coverage is wider in life insurance. |
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knowitall
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how many times might your mother die accidently? sorry for being so ruff, but those types of riders are just another way of getting people to give the insurance co. money. |
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Jay
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Accidental death policies are becoming more and more outdated. If she does not have other types of life insurance you should start looking into that immediately. If you would like to talk further about this matter, feel free to contact, as I am a licensed agent in NY. |
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mbrcatz
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No, because the chances of her dying in an ACCIDENT - unless she's an avid hangglider? - at her age are slim to none.
She's throwing her money away. |
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MathProf
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It depends who is dependent on your mother. Accidental Death policies are designed to protect dependents in case the person they are dependent on dies. If you are on your own and would not suffer a financial loss in the event of your mothers passing, then the policies are unnecessary. If your mother has dependents who count on her for their support, than regular life insurance would be a much better buy.
Sounds like the insurance agent is doing well off Mom! |
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