accidental death benefit definition
This is called double indemnity coverage and is often available even when accidental death insurance is merely an add-on to a regular life insurance plan. Some of the covered accidents include traffic accidents, exposure, homicide, falls, heavy equipment accidents and drowning. Accidental deaths are the fifth leading cause of death in the U.S. as well as in Canada. Accidental death insurance is not an investment vehicle and thus clients are paying only for sustained protection. Definition. A life insurance policy provision that calls for an additional payment, usually equal to the face amount of the insurance, in the event of accidental death. Also called double indemnity. Words near accidental death benefit in the dictionary. 1  accidental-colour. 2  accidental-colours. 3  accidental death. 4  accidental death and dismemberment insurance. 5  accidental death benefit. 6  accidental-light. 7  accidental-lights. 8  accidental-point. 9  accidentalism. 10  accidentalist. (May 2015). In insurance, accidental death and dismemberment (AD&D) is a policy that pays benefits to the beneficiary if the cause of death is an accident. This is a limited form of life insurance which is generally less expensive. In the event of an accidental death, this insurance will pay benefits in addition to any life insurance but only up to a set amount total regardless of any other insurance held by same insurer, held by the client. An Accidental Death Benefit Rider is a provision in a Life Insurance policy that can provide an additional payment if your death occurs as the result of an accident, often double the amount of money. A payment, in addition to the compensation received by the beneficiaries of an accident insurance or life insurance policy, to be made paid if the insured suffers an accidental death. See also double indemnity. Accidental death benefit and dismemberment is an additional benefit paid to the policyholder in the event of his death due to an accident. Definition: Accidental death benefit and dismemberment is an additional benefit paid to the policyholder in the event of his death due to an accident. Dismemberment benefit is paid if the insured dies or loses his limbs or sight in the accident. Description: In an event of death, the insured person gets the additional amount mentioned under these benefits in the insurance policy. If you work in a potentially dangerous environment (with heavy machinery, for example) or drive more than average (either professionally or as a commuter), an accidental death benefit rider might be a good rider to consider adding to your policy.
A life insurance policy provision that calls for an additional payment, usually equal to the face amount of the insurance, in the event of accidental death.