Accidental Death Benefit

Filed Under » , , , ,
Dictionary Says

Definition of 'Accidental Death Benefit'

The payment due to the beneficiary of an accidental death insurance policy, which is often a clause or a rider connected to a life insurance policy. The accidental death benefit is usually an amount paid in addition to the standard benefit payable if the insured died of natural causes.

Depending on the issuer of the policy, the accidental death benefit may extend up to a year after the initial accident occurred, so long as the accident led to the insured's death.

Investopedia Says

Investopedia explains 'Accidental Death Benefit'

Accidental death, as defined in accidental death insurance policies, is any death strictly due to accident. It typically excludes such things as acts of war, death caused by illegal activities, etc. Hazardous hobbies in which the insured regularly engages are generally specifically excluded as well. In the case of a fatal accident, death usually must occur within a period of time specified in the policy.

Accidental death benefit riders should be considered for people who work in or around potentially hazardous environments, and can be used to beef up the benefit paid to beneficiaries. These riders typically end once the insured person reaches the age of 70.

Articles Of Interest

  1.

    5 Life Insurance Questions You Should Ask

    Confused about $1 million dollar insurance advertising claims? Decide whether they'll pay off for you.

  2. Life Insurance: How To Get the Most Out Of Your Policy

    There are many benefits to owning a life insurance policy - if you get the right one for you.

  3. Getting Started On Your Estate Plan

    With some preparation, you can save your heirs from paying a hefty estate tax. Here are some tips.

  4. Life Insurance: Putting A Price On Peace Of Mind

    Would your death leave loved ones financially stranded? Find out how to ease your mind and keep them protected.

  5. Exploring Advanced Insurance Contract Fundamentals

    Understanding your contract can help you protect our family's financial security.

  6. How Much Life Insurance Should You Carry?

    Learn how much - if any - insurance you really need.

  7. Let Life Insurance Riders Drive Your Coverage

    Find out how these additional benefits can help you customize your policy.

  8. Financial Designations That Employers Require

    We break down the designations that are important to have if you want to work in the financial sector.

  9. Retirement: The One Thing Couples Shouldn't Do Together

    Staggering retirement can have both financial and emotional benefits for married couples.

  10. Top 5 Budgeting Questions Answered

    You don't need a degree to understand your money, begin saving and pay down debt.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Xenocurrency

    A currency that trades in markets outside of its domestic borders.

  2. Wanton Disregard

    A standard of severe negligence. Wanton disregard is a very serious accusation that indicates that a person behaved extremely recklessly.

  3. Ultra ETF

    A class of exchange-traded funds (ETF) that employs leverage in an effort to achieve double the return of a set benchmark.

  4. Toehold Purchase

    A purchase of less than 5% of a target company's outstanding stockmade by an acquiring company. A toehold purchase of just under 5%, while not a significant stake in a firm, allows the shareholders a "toe-holds" grip on the company and its decision making.

  5. Samurai Bond

    A yen-denominated bond issued in Tokyo by a non-Japanese company and subject to Japanese regulations.

  6. Chartalism

    A non-mainstream theory of money that emphasizes the impact of government policies and activities on the value of money.
Trading Center
http://sp.fastclick.net/ad/tr/10858-64082-15546-0?mpt=3323e8ddfa1355b3f2b294e5d2f6f19a