The offer I received recently from the Globe Life Insurance Company offered me $123,000 of coverage for only $13.53 per month and without any medical qualifying. 

Globe Life Insurance, Globe life and Accident, World Insurance, Globe Life, these are just a few of a small group of companies offering Accidental Life Insurance.  Life insurance which may be hazardous to your families wealth. 

Consumers sweep these offers up daily and for good reason.  With such incredible low prices who could overlook this all to important coverage for their family while saving a few dollars-right? Right up until something happens and your family is left wondering what ever happened to all that money.   

Globe Life Insurance in addition to a handful of other companies have made it a business to offer these incredible policies.  As you will notice in the policy you would receive should you purchase one these are Accidental Life policies-read the policy.  Accidental Life and Disability policies ONLY pay a benefit when the cause of death is the direct result of a "covered" accident.  You will find in the policy what is defined as a  "covered"  accident.  I can guarantee you that "accident" is used in the most conservative way.  But what happens when the cause of death is the result of sickness, illness or natural causes?   Nothing. 

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If death is the result of an accident not defined as an accident in the policy, or more likely death is the result of illness or natural causes as most are, the insurance company does not owe your beneficiaries a dime and will not pay one either. 

Accidental deaths account for only about 1% of all deaths according to Life Actuarial tables.  These are the statistics Life Insurance companies rely on in determining how much to charge for various forms of life insurance.  All the other causes of death, the other 99% are the result of a cause other than an accident.  In other words theses Accidental Life Insurance policies only pay out about 1% of the time.  Silly me, I thought death has a 100% certainty.

Ordinary life insurance normally does not exclude certain causes of death, this way the beneficiaries are certain to receive something no matter what caused the death of the insured.  After all how can you be certain you will die from an accident and not from a sickness or illness, or just plain getting old?  You can't and that's what makes Accident Life Policies so cheap and such a great deal for the insurance companies that sell them. 

Term Life Insurance can offer very inexpensive coverage as well, without the extra fine print detailing how you must die in order for your family to collect any money.  And if cost is such an issue that you are even thinking about buying one of these useless Accident polices, than at least consider a smaller amount of term insurance.  This will lower the cost of the Term Insurance and still give your beneficiaries something for sure regardless of how you meet your fate. 

Getting health insurance quotes is now extremely easy with the use of the Internet. Take advantage of online insurance quote availability to get an idea of the range of premium prices offered. Even if you don't want to buy online, you will have a better understanding of what the insurance agent is talking about, and when it comes time to put ink on the contract, you will be making a more informed decision. Remember, too, that quotes are free and come without obligation.

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