Accident Only life insurance is the most inexpensive life insurance on the market. That is the case because the beneficiaries only get paid in the event that the proposed insured that dies must have passed specifically from an accident. If you have an accident-only policy and die from cancer, it doesn’t pay out because it’s accident-only life insurance, which makes it the most inexpensive way possible to get life insurance in the world.

If you’re meeting with a client and they want a specific amount of coverage, but they can’t afford it a lot of times people will get this amount of coverage in one area and they will get this much more in an accident policy, which will be a total life insurance amount of this. A standalone accident policy is a great way for a younger person that does not necessarily want a “Big Boy” policy yet but wants to get started with life insurance benefits. These types can range from $50,000 to $500,000.

There are also all kinds of useful family plans that you can add dependents to. For example, if you don’t want every child to have their own policy, you get a family policy. Some states have a return of premium option if you died in an accident. That means the beneficiary would get a check if you did die in an accident. The most popular product that’s very inexpensive for younger people is accidental death and again it’s only available for people that are between ages of 18 and 50.