Accidental Death and Dismemberment (AD&D) insurance
AD&D insurance pays a pre-determined amount to your beneficiaries in the event of your death in an accident (for example, a car crash). AD&D pays lesser amounts to you or your beneficiaries for various types of accidental injuries that result in the loss of limbs, speech or hearing.
In the event of an accident or death, USC Benefits will file a claim on your behalf once they are notified.
A note about naming a minor as your beneficiary
Minors may be named as beneficiaries, but this designation raises special issues which may delay a claim payment. Because insurance proceeds cannot be released directly to a minor, the insurance company will need proof of a court-appointed legal guardian for the minor’s estate/property who can receive the insurance proceeds on the minor’s behalf. Even a surviving parent who has custody or control of the minor’s well-being or living arrangements may not be authorized to collect assets on behalf of the minor. The court will ultimately decide who should be the guardian of the minor’s estate. In some instances, state law may allow an insurer to distribute small benefit amounts (typically $10,000 or less) to an adult representative of the minor through the Uniform Transfers to Minors Act (UTMA). There may be better alternatives to naming a minor as a beneficiary. Consult an attorney to determine what options best match your intentions. An attorney also can assist in preparing what is known as “Letters of Guardianship” for the minor’s estate should you need them to petition the court.
Securian is USC’s AD&D provider until December 31, 2020, after which coverage will be provided through MetLife (see the open enrollment site for details).
Contact Securian customer service by email or call (800) 843-8358.
Securian Group Life and AD&D Insurance Plan Summary
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