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Hartford Life You May Already Have!

Reviewing: Hartford Insurance $1000 Accidental Life  |  Rating:
Joan Young By Joan Young on
Badge: Editor | Level: 34 | Insurance Expertise:
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You may have $1000 of accidental life insurance and not know it!

This is a story... just a warning for those of you who don’t like long explanations, but there IS a product review in here. I have $2000 accidental life coverage that I did not even know about!

I received a notice in the mail a couple of weeks ago from my Chase Credit Card (Amazon Visa). It said that I already had $1000 worth of accidental life insurance, and they were asking me if I’d like to increase that. OK, I’m a true cynic. I think that most insurance is nothing but a legalized scam. But I read the little table with costs vs benefits, and I’m actually considering this.

First of all.... the $1000 is there whether I do anything or not.

But for only $2.75 a month I can increase that to $25, 000. Not bad. There are other levels that work their way up to $300, 000 for $33 a month. You can make this a family coverage plan at $4.13 a month for the $25K, and $49.50 a month for the $300K. I’m thinking about the low end of this which seems quite reasonable to me. (If I keep it for 10 years till I’m 70 I would pay in about $495, and if one of us were killed we’d get $25K out. )

I called to find out some details. This is ACCIDENTAL death only. But that 365 day a year paper route in the wee hours of the morning that hubby does with ice, snow, fog or whatever is pretty risky. Two days this week alone there was black glare ice everywhere. So if he has another heart attack and dies, that’s not covered. Ditto for me (well, I haven’t had a heart attack yet, but the point is, it’s only for accidental death). But I go out waltzing through the woods and driving a lot of miles to get there.

My next question was about ages. At age 70 the benefit is cut in half. I have a few years to go yet, but hubby is getting close. But it ONLY depends upon the age of the policy holder. So we would get the full benefit if either one of us is killed until I am 70... his age would have nothing to do with it (since I am the policy holder).

While I was on the phone asking these questions the customer service person said, “Did you know that you already have a $1000 policy with West Shore Bank?”

“No, ” says I. “Does that mean that I can’t have this policy?”

“Oh, not at all, ” he said. “It just means that you already have that coverage. You can do this one too.”

The payment plan is simple... they add it to your credit card balance each month.

OK... so I asked my favorite customer service rep at West Shore Bank about it. Seems they don’t offer it any more, but it was attached to an account I had long ago, and as long as I have continuously had an account there it is still good. BUT... she explained one little detail that I’m sure most people don’t know. Unless hubby puts in a claim for that $1000 if I am accidentally killed he won’t get it. I bet there are bunches of those little policies that never get paid out because people don’t know they exist.

Can’t tell you anything about claim processing... nobody here has been killed (and I’m sure not wishing for this!)

Well, I’m thinking that for $4.13 a month I just might get us a little coverage. And I put a note in my “When I Die” file about those little policies to collect on if that demise is other than by natural causes.

Just a suggestion... check with your credit cards and see if there is some standard life insurance coverage attached.