The Finpage Glossary
Accident or Accidental
In the insurance industry, "accidental" refers to those unexpected and unintentional events that may result in bodily harm or even death. Accidental death insurance, also known as AD&D (Accidental Death and Dismemberment) insurance, provides financial protection to beneficiaries if the policyholder dies or suffers serious injury due to an accident. Unlike standard life insurance policies, which cover death from most possible causes, accidental death insurance specifically covers death resulting from unforeseen incidents such as car accidents, falls, or other types of mishaps.
But the question is how to choose the best accidental insurance plan. It involves evaluating several factors, including coverage limits, exclusions, and the overall cost of the policy premiums. The best plans offer comprehensive coverage that not only includes accidental death but also covers a range of injuries ensuring that policyholders and their families are well-protected. Additionally, some accidental death insurance policies provide added benefits such as medical expense reimbursement and coverage for accidental dismemberment.
Accidental death insurance is often an affordable supplement to regular life insurance or group insurance policies, making it an attractive option for individuals seeking additional financial security. It is particularly beneficial for those with high-risk occupations or lifestyles that increase their exposure to potential accidents. By providing a financial safety net, accidental death insurance offers peace of mind and support during unforeseen and challenging times.
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