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Life insurance/Accidental Death and Dismemberment (AD&D) insurance

Life insurance protects your family financially in the event of your death; money is generally paid income tax free to your beneficiaries, who can use the money for any purpose. 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.