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In Illinois Comprehensive Life and Accidental Death and Dismemberment Insurance

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Understanding Life and Accidental Death and Dismemberment Insurance

Life and Accidental Death & Dismemberment (AD&D) Insurance grants a lump sum payment in the unfortunate event of a covered accident. Unlike Workers' Compensation, which only covers work-related incidents, AD&D insurance offers protection regardless of where the accident occurs, whether at home or on the road, ensuring comprehensive coverage for your employees in Illinois.

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Safe driver benefit

Child care benefit

Elder care benefit

Productivity & Absence

Employee value

Safe driver benefit coverage

Risk Factors

An employee may meet with an accident while returning home from your office. Unfortunately, the employee dies, and their family suffers.

Solution

Your beneficiary may receive an additional 10% of your benefit amount (up to $25,000) if you have a covered fatal car accident and are wearing a seat belt. In addition, this benefit will increase by 15 percent (up to $40,000) if the car you were riding in or driving also has factory-installed airbags that inflate properly upon impact.

Child care benefit coverage

Risk Factors

Your employee dropped their child to school and met with an accident on the way to the office.

Solution

If you have children under 13 and you die in a covered accident, a child care benefit of an additional 3 percent of your benefit amount (up to $2,500 per year) for up to six years may be payable to the person who has incurred the cost of daycare expenses.

Elder care benefit coverage

Risk Factors

Your employee passes away in an accident while their mother is the only family member left behind. She may need some assistance.

Solution

The beneficiary may receive an additional 5 percent of your benefit amount (up to $5,000) if you die due to a covered accident. At the same time, an elderly relative depends on you for support and maintenance.

Productivity & absence coverage

Risk Factors

Your employee is mentally disturbed because they have a mother who needs his support throughout, and this would result in less productivity.

Solution

A study found that in one year alone, adults lose more than 164 million hours of work per year due to dental diseases. Offering dental benefits encourages employees to seek out preventive care early on and avoids workers taking off for unexpected illnesses, and increases productivity, on the other hand.

Employee value coverage

Risk Factors

If an employer fails to offer benefits to its employees, the employees don’t feel valued, which eventually decreases their productivity and causes them to start losing interest in the company.

Solution

If you offer good benefits to your employees, they feel happy that the organization values them. But, in return, they also work hard to deliver their best and make it better for all.

What is Life and Accidental Death and Dismemberment Insurance?

Life and Accidental Death & Dismemberment Insurance pays a lump sum benefit if a covered accident results in death or dismemberment. This insurance is designed to cover unforeseeable accidents that lead to fatality or severe injury, such as loss of limbs or paralysis. It is important to note that deaths caused by pre-existing medical conditions are not covered under AD&D policies.

This type of insurance differs from standard life insurance as it only provides benefits if the death results from an accident. Like term life insurance, benefits are payable only if the premiums are maintained.

What Does Life and Accidental Death and Dismemberment Insurance Cover?

AD&D insurance policies typically cover a variety of incidents resulting from accidents, including but not limited to:

Loss of Life
Loss of Speech
Loss of Hearing
Loss of Sight
Loss of Movement
Loss of Limbs (Hand, Foot)
Loss of Thumb and Index Finger on Either Hand

These policies can be tailored to cover employees exclusively or extend to include their dependents. AD&D insurance offers 24-hour protection, ensuring coverage no matter where an accident occurs, whether in Illinois or beyond.

Advantages of Life and Accidental Death and Dismemberment Insurance

In the US, accidents are the third most common cause of death.
Accidental deaths can cause great emotional and financial burdens for the bereaved family members due to their abrupt and unexpected nature. The death benefit provided by an AD&D policy can alleviate some of this financial burden, offering peace of mind during difficult times.

When provided through an employer, AD&D insurance can be remarkably affordable, often costing only a few dollars per month for participating employees. Even individual policies are generally less expensive than term life insurance with comparable coverage amounts.

For businesses with employees engaged in high-risk activities, such as operating dangerous machinery or working on high-rise buildings, investing in AD&D insurance is particularly prudent. It ensures that both employers and employees are protected from the financial impact of accidental injuries or deaths.

Get Started with Freedom Brokers in Illinois

If you're interested in exploring Life and Accidental Death and Dismemberment Insurance for your business in Illinois, our team at Freedom Brokers is here to help. Contact our employee benefits professionals today to determine if this insurance is the right fit for your company. Protect your workforce and secure their future with Freedom Brokers.

Already have Life and Accidental Death and Dismemberment Insurance? Switching is easy

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.

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In Illinois Comprehensive Life and Accidental Death and Dismemberment Insurance

Understanding Life and Accidental Death and Dismemberment Insurance

Click And Learn

Safe driver benefit coverage

Risk Factors

Solution

Child care benefit coverage

Risk Factors

Solution

Elder care benefit coverage

Risk Factors

Solution

Productivity & absence coverage

Risk Factors

Solution

Employee value coverage

Risk Factors

Solution

What is Life and Accidental Death and Dismemberment Insurance?

What Does Life and Accidental Death and Dismemberment Insurance Cover?

Advantages of Life and Accidental Death and Dismemberment Insurance

Already have Life and Accidental Death and Dismemberment Insurance? Switching is easy

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