Accidental Death Benefit
Definition of Accidental Death Benefit
- 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.
- double indemnity
- life insurance benefit
- policy rider
- policy feature
- death benefit riders
Related Terms and Acronyms
- Life Insurance — Definition, Very Important,
➥ CanEquity offers life insurance.
- An arrangement where an insurer agrees to pay a benefit to one or more beneficiaries in the event of the policyholder's death.
- 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,
➥ An amount paid to a beneficiary in a life linsurance policy.
- A payment or series of payments made to the beneficiaries of a life insurance policy.
- Family Income Rider — Definition,
- A recurring or lump sum life insurance benefit that matches the policyholder's income.