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Ask Dave

Should I Get Accidental Death Insurance?

Alaina says her credit union offers free accidental death and dismemberment insurance. Should she take it?

QUESTION: Alaina on Twitter says her credit union offers free accidental death and dismemberment insurance. Should she take it?

ANSWER: No. You’re not double dead if you die by accident. You’re just dead. Your spouse doesn’t need more money if you die by accident than if you die with a heart attack. They need the exact same amount. Accidental death is a gimmick.

You get the proper amount of term life insurance in place for your family, and you don’t need accidental death.

Oh, I’m sorry. I missed the part where it said “free.” Not much around the insurance world’s free, so I’m trying to figure out why this is free. I want to get into what “free” really means here. If it really means free, then yeah, but if you’re paying some kind of big fee to get to join a little club so that you get free stuff, then it’s not, like, free. Very few things are free, but it could be. If it’s free, I guess it’s fine, but don’t count on it as part of your financial plan.

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Do You Have the Right Coverage? 

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Do You Have the Right Coverage?  

Find out with our free 5-Minute Coverage Checkup!
Take the Coverage Checkup