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What is an Accident Plan?



Accidental death is a limited life insurance that is designed to cover the insured when they pass away due to an accident. Accidents include anything from an injury, but do not cover any deaths resulting from health problems or suicide. Because they only cover accidents, these policies are much less expensive than other life insurances. Accidental death and AD&D policies very rarely pay a benefit; either the cause of death is not covered, or the coverage is not maintained after the accident until death occurs. Accidental death benefits can also be added to a standard life insurance policy as a rider. If this rider is purchased, the policy will generally pay double the face amount if the insured dies due to an accident. This used to be commonly referred to as double indemnity coverage. In some cases, some companies may even offer a triple indemnity cover.

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