Question by texaslizard13: Texas life insurance and illness death benefits?
I live in Texas and I need to find a separate insurance that will pay out benefits if I die from an illness. I already have a term life insurance that pays out if I die from an accident. Are there life insurances out there that will still pay a benefit if you die from a critical illness? If so, is a physical usually required? thanks.
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You need standard life insurance – not one of those “accidental death” policies. Yes, they exist and yes, you usually need a physical and medical records disclosure. See the insurance section under Yahoo Finance “Personal Finance.”
Life insurance covers you in the event of death from any cause (except suicide in most cases). Accidental death is a rider that you can purchase that will pay additional benefits should you die as a result of an accident (car, hunting, etc).
Health insurance covers you for health care costs while you are alive. There is no payout in the event of your death.
If you think your term policy only covers you from an accident, I would seriously take a close look at your terms. That doesn’t seem right.