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AD&D Coverage and International Life Insurance
ITG Worldwide has assisted thousands of individuals and companies secure global Accidental Dealth & Dismemberment (AD&D) and international life insurance coverage. With domestic life insurance and AD&D carriers increasingly limiting the coverage area of their benefits, having a global AD&D and international life insurance plan helps meet employers' contractual obligations and provide individuals with confidence while traveling or working abroad.
Value
AD&D
AD&D coverage is relatively inexpensive yet can provide a high limit of coverage (up to $100,000,000). Plans can be written with a global coverage area including countries listed on the U.S. State Department warning list and war zones. Unlike many domestic AD&D or life plans, the coverage we offer is not offset by other plans or benefits received. International AD&D coverage is an excellent way for employers to cover gaps in coverage for their expatriate employees and provide extra protection for their employees traveling internationally. Terms are also extremely flexible with daily rates and one day coverage available.
International Life Insurance
International life insurance can be used to meet employee contract obligations or provide family protection. Most U.S. life insurance carriers will not offer coverage to those residing outside the U.S. or even those that travel extensively overseas. The plans we offer are not offset by other life plans.
War & Terrorism Coverage
U.S. and European life and AD&D plans typically exclude coverage for countries listed on the U.S. State Department Warning List. Expatriates heading to areas of conflict such as Iraq and Afghanistan will require specialized insurance plans such as an AD&D plan with war and terrorism coverage. ITG Worldwide can further enhance this coverage by adding additional benefits like APTD (Accidental Permanent Total Disability) and Natural Causes coverage. For some clients we can supplement high risk AD&D coverage with Natural Causes coverage. This forms a dual policy very similar to term life policy.
Defense Base Act (DBA)
Many employers we work with are obligated to purchase a specialized form of Workman’s Compensation insurance called Defense Base Act (DBA) coverage. DBA is designed to provide valuable work comp benefits for employees in areas of conflict. The problem is that DBA benefits are “capped out” at certain income levels. ITG Worldwide can provide a solution to make sure your employees are protected for their full income and not a percentage of their income.
ITG Worldwide has assisted hundreds of employees in war zones by providing what we call a “Top Up” solution. We can protect an employee’s entire income by adding additional coverage through specialized AD&D policies. In effect, what we do is supplement the basic coverage provided by DBA plans. Our “Top Up” solution is independent of DBA and any other coverage the employee may have and pays independently of other plans. There is no offset of benefits through the AD&D policies we make available.
Unique Payment Terms
Working with our underwriters, ITG Worldwide has developed a unique premium payment system called the Day Rate System. Prior to the Day Rate System, clients paid for coverage monthly regardless if they were in-country for the entire month or not. The Day Rate System accounts for when employees need to be removed or added to coverage in daily increments. Employers pay only for coverage used.
Coverage Options
AD&D and international term life insurance plans are highly flexible and allow for a number of optional benefits including;
- War and Terrorism Coverage
Plans can be written for high risk areas like Afghanistan and Iraq.
- APTD – Accidental Permanent Total Disability
APTD offers the full benefit in a lump sum after 365 days of total disability.
- SCA – Sudden Cardiac Arrest
SCA pays a full benefit if the insured dies within 72 hours of a sudden cardiac arrest.
24-hour coverage refers to have coverage 24/7.
Provides coverage only while on a public conveyance such as an airline or bus.
Coverage only while traveling on a commercial airline.
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