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Anyone have PenFed's free $1000 ADD coverage?
Old 08-11-2011, 03:24 PM   #1
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Anyone have PenFed's free $1000 ADD coverage?
I just got a letter from PenFed offering me free $1000 Accidental Death and Dismemberment insurance coverage, with no medical exams or health questions. It says this coverage is paid for by PenFed, provided I return the Activation form.

This looks legit, and I'm leaning towards not turning down the small amount of free coverage, but has anyone else heard of or signed up for this? Can you think of any reasons not to sign up?
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Old 08-11-2011, 03:30 PM   #2
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Can you think of any reasons not to sign up?
Yep. Sign up and you'll likely be bombarded with offers for more coverage, life insurance, cancer insurance, arthritis insurance, bunion insurance, ...
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Old 08-11-2011, 03:31 PM   #3
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I also received the offer today. I've gotten these before from other Ins companies. It's only for accidential death and I'm sure they are hoping you will opt for the additional coverages. Sort of a way to get their foot in the door.

I tossed mine!
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Old 08-11-2011, 05:17 PM   #4
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I tossed mine!
Ditto!
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Old 08-11-2011, 05:24 PM   #5
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yeah on second thought, probably not worth the hassle. Thanks for the input!
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Old 08-11-2011, 05:58 PM   #6
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Yep - got "free $3,000 life insurance" from the Texas State Rifle Association. The small print said an agent would contact us to "witness" the beneficiary signing and to discuss other products. I wrote a note on the card that I would appreciate no other solicitations.

Their biggest faux pas was having the request for insurance on a prepaid post card. On the back you listed your full name, address, phone number, and date of birth. I put the card in an envelope and mailed it to them. What on earth were these people thinking?
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Old 08-11-2011, 07:46 PM   #7
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I've received these from credit unions over the years and always just toss them in the bag to shred. It seems like it would unlikely ever payout and if I did meet my demise in an accident it could be easily overlooked in sorting out my estate. I certainly don't want to encourage more junk mail either.
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Old 08-11-2011, 07:57 PM   #8
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