Accidental Death and Dismemberment Insurance provides coverage in the event of death due to an accident, but it also provides benefits if you suffer an accident that leaves you unable to work due to a covered loss. Having proper coverage to take care of you and your family in case of an accident can help provide some financial security during uncertain times.
Accidental Death and Dismemberment Insurance is surprisingly straightforward. You select a principal sum amount of insurance that will cover your needs, and in the event an accident causes one of the listed losses, you’ll be paid a percentage of the principal sum amount. For example, a long-term injury such as paralysis could pay up to 200% of the principal sum, which would help with the ongoing costs of medical treatment and could even cover the loss of your paycheque if you are unable to work.
Everyone Can Benefit from Accidental Death and Dismemberment Insurance
Even if you have insurance coverage through work or are covered by a provincial health plan, you can still benefit from additional coverage. Often, catastrophic accidents can lead to significant expenses, so additional coverage can help with the financial strain caused by medical bills from treatment and prescriptions that aren’t covered by your employer or the government.
Accidental Death and Dismemberment Insurance is also important for self-employed or contract workers. In these types of employment situations, people often don’t have sick leave or benefits, so supplemental insurance is often the only form of income after suffering one of the listed losses as a result of a devastating accident. Benefits from Accidental Death and Dismemberment Insurance can even help with home alterations, vehicle modifications or rehabilitation benefits that are required as a result of an accident that causes one of the listed losses.
Hudson’s Bay Financial Services offers affordable Accidental Death and Dismemberment Insurance that can help cover bills not only in the event of death but also from an accident that leaves you unable to work due to a covered loss. In addition, you’ll be able to earn up to 2,000 Hudson’s Bay Rewards points upon enrolment for insurance coverage and 4,000 Rewards points for paying your premium due at your annual renewal.1
Accidental Death and Dismemberment Insurance is offered by Hudson’s Bay Financial Services and is underwritten by Chubb Life Insurance Company of Canada (“Chubb Life”). This information is for general information purposes only. Actual coverage is determined by the facts and circumstances of the particular loss and the terms and conditions of the policy as issued.
Chubb Life is part of the Chubb group of companies. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. Chubb Limited, the parent company of Chubb, is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index.
1 Earn 2,000 Hudson’s Bay Rewards points at enrolment and 4,000 Rewards points annually when you use a valid Canadian credit card to pay your premiums on a monthly basis.