High-Limit Accident Insurance - Need Coverage and Applications A serious and fatal mishap can happen to anyone, anywhere, and at any time (especially in this fast moving world around us full of uncertainties). According to the National Safety Council’s Accident Facts 1994 Edition, accidents are the leading cause of death for people under the age of 37—the fifth leading cause of death for persons of all ages. These accidents can come in any form—imaginable and sometimes even unimaginable. During a morning shower you could slip and suffer one of the 12,600 fatal falls that occur each year, surprisingly half of them occur at home. You are back to your home on an overcrowded freeway, and suddenly smashed with the vehicle ahead, again you're one of 44,000 annual traffic fatalities. Need Despite of thousands of efforts, cares, and ultra-modern facilities to save us from all these most unwanted events; these occur. Most of us would like to believe that accident is something that happened to other people—neither to us nor to any of our family members. But as a cruel fact accidents take lives of thousands of ordinary people like me and you, each year; most of who probably think and do the same things as we do. No one can adequately prepare for the loss that a fatal accident can bring to us and we know nothing can compensate the loss of life. This is perhaps the only blank space, which can not be filled, even with the best possible alternative available. But for sure you can prepare for the potential financial strain that you may face at this situation. Sending your children to college, once a certainty, may now become just a dream—unless you have prepared for the unexpected. We know we can not stop (however, we can reduce up to certain extent!) all these misfortunes, but suppose these happen, then how prepared are we to deal with them? The answer is "High-Limit Accident Insurance", as they provide economical protection against the financial consequences of a serious accident. Coverage High-limit accident insurance is a special type of insurance policy, designed to safeguard you and your family against the enormous costs associated with a serious injury or mishap. It provides up to a $500,000 one-time payment in the event of death or specified injury resulting from a covered accident. Also, most policies can provide benefits if you lose the use of some or all of your limbs due to an accident. The proceeds can be used by you and your family in any way you desire. Furthermore, some plans may increase the benefit amount payable, if a covered loss occurs, while the insured is a passenger on a common carrier. Some Main Highlights Of The Coverage Are: You may select amounts of insurance (the "Principal Sum") from $50,000 to $500,000 (in units of $50,000). You may also apply for spouse coverage from $50,000 to $500,000, but the amount may not exceed the member's coverage (mostly 50% of member's amount). Each unmarried dependent child under age 25 may be covered for $10,000. $25,000 Common Carrier Benefit. This benefit pays extra benefits for a covered loss that occurs as the result of an accident while you are a fare-paying passenger on a licensed common carrier. Up to $5,000 Accidental Death Benefit. The Plan pays additional benefits for a covered accidental death that occurs outside of the United States to cover expenses incurred to return the insured's body to the United States. Up to $5,000 Rehabilitation Benefit. This benefit helps prepare a member to return to the work force. Education Benefit. This benefit helps pay an insured children’s' educational costs at an institute of higher learning. Seat Belt Benefit. If an insured person dies as a result of an automobile injury while wearing a seat belt, this benefit provides an additional payment to the principal sum payable for Loss of Life. Benefits Accidental Death pays the Principal Sum Benefit to the designated Beneficiary in the event of death due to accidental bodily injury, or exposure to weather as a result of an accident or disappearance or the sinking of a conveyance on which the insured was a passenger and the body is not found within 365 days of the accident. Dismemberment includes the loss of use of both hands or feet, or one hand and one foot, or the loss of sight of both eyes. The Principal Sum Benefit is paid for these losses. One half the Principal Sum amount will be paid in the event of the loss of sight of one eye, the loss of use of one hand or one foot, the hearing of both ears or the ability to speak. Permanent Disability pays the Principal Sum Benefit if the Insured has been totally disabled from an accident for a 365-day Period and at the end of such period it is determined by competent medical authority that the Insured will not recover from the effects of the sustained injuries to the extent of ever being able to resume the material and substantial duties of the Insured’s occupation. The Underwriters reserve the right to have the Insured examined by a physician of their choice. Should their physician and the Insured’s physician not be able to agree that the Insured is totally and permanently disabled, the two physicians shall name a third physician to make a decision on the matter which shall be final and binding. A simple application form is required to submit, which is easily available from the insurance company. Please refer to the plan description for benefits and premium cost before you fill out any of the Request Form/Application Form. © 2004 by Roger Lacocoa,  Affordable Health Insurance Quotes. ~~~~~~~~~ About the author: Roger Lacocoa is a professional consultant with Affordable Health Insurance Quotes, specializing in the areas of health, life and disability insurance. Disclaimer: All content in this website is provided for educational purposes only. The publishers of this website do not give any warranty as to the accuracy or completeness of the content on same website. No part of this website or any material appearing on the site may be reproduced, stored in or transmitted on any other website without written permission. All content is original and copyrighted.