alexa
Indianmoney.com Missed Call Number
Home Articles What is an Accident Plan?

What is an Accident Plan?

IndianMoney.com Research Team | Updated On Wednesday, November 19,2014, 05:40 PM

5.0 / 5 based on 1 User Reviews

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.

 

Did you find this article useful? You can Rate us
5.0 / 5 based on 1 User Reviews
Article Author

IndianMoney.com Research Team

The research team at IndianMoney.com comprises of certified and experienced professionals who share the company's vision to make every Indian financially literate by equipping every Indian with right and unbiased advice. IndianMoney.com research team provides newsletters, articles, videos and FAQs on various financial products and concepts only to help you make wise financial decisions.

Subscribe to our Youtube Channel

 
Get the Best Financial Advice on Car LoanClick Here

Most Popular

Why one must never neglect estate planning

07 January 2014, Tuesday

Things to Know About Hybrid Mutual Funds

26 November 2013, Tuesday

What is Car Insurance? Why is it important?

21 October 2009, Wednesday

Latest Stories

Personal Loan for Self Employed

19 September 2018, Wednesday

What Is A Government Bond?

19 September 2018, Wednesday

Unsecured Loan

18 September 2018, Tuesday

MCLR vs Base Rate

18 September 2018, Tuesday

Popular Tags

GST
UK
 
Get the Best Financial Advice on Car LoanClick Here

Calculators

Get It now!