Month: April 2017

Benefits Kidnap and Ransom

Benefits of Kidnap and Ransom Insurance

Benefits of Kidnap and Ransom (K&R) Insurance

Kidnap and ransom insurance can come as part of a corporate insurance portfolio or as a standalone insurance policy. Its importance remains high because drug dealers, kidnappers, and pirates make sure of that. But what does a kidnapping insurance do anyway? Here we are going to take a look at the ways in which a kidnap and ransom insurance can benefit you.

What is Kidnap and Ransom Insurance?

Before we get down to what is K&R insurance, it is important to take a look of some of the facts. For instance, there are 18,000 to 20,000 reported kidnappings worldwide every year. The exact number of kidnappings is impossible to tell because many of them go unreported. The only way to keep yourself or the employees of your organization safe is by opting for a kidnap and ransom insurance, which is designed to help an individual or an organization minimize the financial loss due to a kidnapping. In the case of a kidnapping, illegal detention or extortion, the beneficiaries are able to receive immediate access to experienced consultants who are specially trained to deal with such situations, both locally and in foreign countries, which results to a greater possibility of the hostage’s release.

The costs that are covered under the kidnapping insurance include:

  • The ransom amount.
  • Any loss of the ransom while in transit.
  • Any legal fees or associated costs during the negotiation process.
  • Fees for a specialist response consultant (if any).
Other Benefits of Kidnap and Ransom Insurance

Offers a Sense of Relief

Knowing that someone who you care about dearly has been kidnapped can be a highly stressful experience. In the heat of the moment, your family would agree to pay any amount of ransom necessary for their loved one’s safe release. But, with a K&R insurance policy, you don’t have to go about it alone. While anybody would pay the ransom if it meant the release of someone they love and care about dearly, regardless of what the amount is, agreeing to pay the amount has far reaching affects on your personal finances. This is the main reason why a kidnap and ransom insurance is so beneficial in this unfortunate situation. Investing in a kidnap and ransom insurance plan ensures that your loved ones or your employer has the financial backing in place to cover the expenses in a time of need.

Tax Savings with Kidnap and Ransom Insurance

Let’s be clear, every investment that you make when taking out an insurance policy helps you save money in the long run. Similar to other insurance policies, when you buy a kidnap and ransom insurance and start to pay your premiums you are able to enjoy annual tax savings as well. There are basically two main advantages of getting a kidnap and ransom insurance. One is you get to protect yourself and your loved ones or employer from financial strain, and secondly, you can make significant savings in tax cuts.

Bottom Line

As incidents of kidnap, ransom and extortion become more of a reality, it makes sense to take out a kidnapping insurance for the safety of yourself and your loved ones.

Fill out our Kidnap and Ransom form to get a quote for your Insurance

Why Accidental Death Insurance

Do you really need Accidental Death Insurance?

Accidental Death Insurance

While nobody likes to think of their own death, accidents do happen, and some of them can turn out to be fatal. Taking out an accidental death insurance policy is a smart way to safeguard the future of one’s family in the event of something as unfortunate as your death occurs.

An accidental death insurance can provide you with peace of mind, knowing your family will be taken care of financially in the case of your untimely death. Furthermore, accidental death and dismemberment insurance can also be extremely beneficial in case you receive a serious injury, which results to a loss of limb.

Accidental Death Insurance Should Be Taken Seriously

According to the CDCP (Center for Disease Control and Prevention) accidents amount to around 130,000 deaths in the United States alone. In fact, according to the data, accidents are the fourth leading cause of death in the US. For anybody, these are incredible numbers when one realizes that so many people lost their lives simply because of an unfortunate accident. Accidents can occur anytime, which is all the more reason for you to be prepared for any unforeseen even that is out of your control..

With such a high chance of accidents, signing up for accidental death insurance makes perfect sense. An accidental death insurance policy is not normally included in a basic life insurance policy, so if someone signs up for an accidental death insurance policy on top of their existing life insurance policy, if they pass away as a result of an accident or lose a limp such as an arm or a leg, the beneficiary of the AD&D insurance policy, as in, the person who is to be paid the proceeds is entitled to receive almost twice the face value of their initial insurance policy, especially if they signed up for a high limit accident insurance. 

Accidental Death Insurance Does Not Cost an Arm or a Leg

It is a cheap way of looking after your future, or that of your loved ones. AD&D insurance pays you or the beneficiaries a set amount of money if your death or dismemberment is the direct result of an accident, regardless of the type of accident, and the best part is, the accident insurance does not cost you an arm or a leg, unless of course, you lose an arm or leg, in which case you will be paid a substantial amount that’s been pre set by the insurance agreement. So, it’s a win-win situation from every angle!

What about Dismemberment?

Another thought you would rather not think of. But, it’s better to be safe than sorry! Right?

Accidental death and dismemberment insurance is offered on a ‘pre-member’ basis. In other words, if you lose a single member such as a foot or limb, or one eye, or your speech or hearing, the insurance company will pay you 50% of the total benefit. On the other hand, if you lose two members, as in, both your arms or legs, or both your eyes, then you will receive the whole amount of the accidental death and dismemberment insurance. The coverage of certain conditions such as paralysis varies according to the insurance company so it’s best to read the fine print before signing on the dotted line.

At Atlas Underwriters we offer you instant online quote for Accidental Death Insurance, Get covered today !