Accidental Death
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. 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. Insurance premiums are expected to rise in time. Most policies have to be renewed periodically (with revised terms), although the client's consent with renewal is often implicitly assumed.
Read more about this topic: Accidental Death And Dismemberment Insurance
Famous quotes containing the words accidental and/or death:
“In an age of synthetic images and synthetic emotions, the chances of an accidental encounter with reality are remote indeed.”
—Serge Daney (1944–1992)
“Thou hast made me, and shall thy work decay?
Repair me now, for now mine end doth haste;
I run to death, and death meets me as fast,
And all my pleasures are like yesterday.”
—John Donne (1572–1631)