Your bank or credit union may have already sent you an announcement that you are covered for $1,000 of accidental death and dismemberment insurance. It's free, but what is it?
It is a real policy, usually through TruStage. The $1,000 pays out only if you die in an accident or lose a hand, foot, eye, hearing, or speech in an accident. Not illness. Not natural causes. Just accidents.
It does not pay medical bills, stitches, scans, ambulance rides, ER copays, or hospital charges. The $1,000 is a cash benefit, not health insurance.
If you sign up, expect mailings urging you to add $50,000, $100,000, or more in extra AD&D coverage for a monthly fee.
