Accidental Death Benefit

Definition of Accidental Death Benefit

  1. A benefit found in select life insurance policies. If a life insurance policy contains an accidental death benefit clause, an additional sum is paid to the beneficiary if the cause of death is deemed accidental. A range of exclusions including age and time limits may apply.

Notes: A life insurance policy rider.

Synonyms

  • double indemnity
  • life insurance benefit
  • policy rider
  • policy feature
  • death benefit riders

Acronyms

  • ADB

Related Terms and Acronyms

  • Life Insurance Definition, Very Important,
    • An arrangement where an insurer agrees to pay a benefit to one or more beneficiaries in the event of the policyholder's death.
    CanEquity offers life insurance.
  • Accidental Death and Dismemberment Insurance Definition,
    • Insurance coverage for death or dismemberment (the loss of a body part).
  • Insurance Policy Definition,
    • A legal contract between an insurer and entity that specifies what the insurer is required to cover and any benefits the insured entity is entitled to.
  • Burial Insurance Definition,
    • Insurance that provides coverage for funeral expenses.
  • Variable Death Benefit Definition,
    • A life insurance death benefit that differs depending on how well the insurance company's investment portfolio fares.
  • Death Benefit (DB) Acronym, Very Important,
    • A payment or series of payments made to the beneficiaries of a life insurance policy.
    An amount paid to a beneficiary in a life linsurance policy.
  • Family Income Rider Definition,
    • A recurring or lump sum life insurance benefit that matches the policyholder's income.
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