The agents of Southwest Insurance Center strive to provide their customers with the types of policies that will offer the features they want. A policy that includes a double indemnity clause can benefit families in Austin, TX who have unique needs. A family with several children or if there is a family member that needs ongoing medical care, a double indemnity policy can be a godsend if something happens to you.
What Is Double Indemnity?
A double indemnity clause will pay double the face value of a policy if the insured dies under certain circumstances. In most cases, if you are killed in an auto accident or other type of unexpected event. If you pass away from an illness or natural causes most policies will only pay face value. Since an accidental death is so unexpected, the double indemnity clause provides the additional financial support a family will need during this devastating time.
Who Benefits the Most?
With a double indemnity clause, the family of the deceased normally has the most to gain. When the policy is purchased, the insured can designate where the money will go if they pass away. For example, if there a family member who has ongoing medical needs, part of the money can be put into a trust that will continue to pay their medical expenses.
If you want to learn more about double indemnity policies and live in the Austin, TX area, call the agents at Southwest Insurance Center. They can answer your questions and show you how a double indemnity policy works so you are fully informed. Call and schedule an appointment today with one of their agents! They can help!