AD&D insurance allows your beneficiaries to get a cash payout, also known as a cash benefit, in the event of an injury or death due to a covered accident.
AD&D insurance only pays a benefit when a death or injury was the result of a covered accident. Life insurance pays a benefit no matter how a death occurs, whether it’s from an accident or a natural illness like a virus or cancer. However, some causes of death (such as suicide), and participation in certain high-risk activities, may not be covered by the typical life insurance policy.
There are a couple different coverage options that can help protect you and your family if a covered accident occurs.
With single coverage, you’re the only one insured.
With family coverage, you, your spouse, and your dependents (such as your children or handicapped individuals) are covered. Your spouse will be covered for 50% of the coverage level you choose. Dependents will be covered for 20%. If you don’t have dependents, your spouse will be covered for 60%. If you don’t have a spouse, each of your dependent children will be insured for 25%.
Family coverage can also have benefits like childcare, college education, and a child savings fund. Benefits and features may vary by state, so be sure to check what’s available where you live.
This might happen for two reasons: 1) Because your credit union no longer offers this benefit; or 2) You are no longer a member of that credit union. In some cases, complimentary coverage can expire.
No, you’re not covered when your policy is inactive. If your policy is inactive due to nonpayment, you need to make a payment on your policy to reinstate your coverage.
To determine the coverage amount of your AD&D policy:
- Log in at the top of our website.
- Next log in to your personal account.
- Select 'Manage my account’ and view the Certificate Overview section for details.
Please refer to your contract for additional features and benefits.