You may have seen it advertised in magazines and on television. $1,000,000 accidental death travel insurance. It’s quick and easy and it is a guaranteed issue product. It’s very affordable.
It’s not the answer for all of those who are taking jobs in war zones as “acts of war” is one of the few exclusions. It does cover acts of terrorism though which makes it an attractive product for those who may have to travel to areas where car bombings and suicide bombings are not uncommon.
It is only in force when you are traveling, so you really need to have life insurance in force for when you’re at home.
This product fills a niche that has long been owned by Lloyds of London and makes a product available that is much more affordable than Lloyds. While Lloyds will still be the go to company for the crazy risks, having your worldwide travel covered with an additional $1,000,000 of accidental death will put a lot more business people at ease.
Bottom line. I always recommend a person have adequate life insurance before worrying about accidental death insurance, but there are times when the extra coverage is prudent and a reasonable thing to do.