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:
“It is with benefits as with injuries in this respect, that we do not so much weigh the accidental good or evil they do us, as that which they were designed to do us.—That is, we consider no part of them so much as their intention.”
—Laurence Sterne (1713–1768)
“You listen to artists fighting with each other, competing to the death like gladiators, in order to see who is going to get into a show, who is going to make it, who isn’t: who is going to get a full-page ad and who is going to get a half-page. Then I think, “Wouldn’t it be wonderful to go off somewhere and just do your work?””
—Howardena Pindell (b. 1943)