Accidental Death Insurance
Usually paired with Dismemberment Insurance, Accidental Death Insurance provides a benefit for your family upon your untimely and accidental demise. These policies are quite specific as far as a time frame and what constitutes accidental death. Often, your death must occur within three months of the initial injury for it to be considered accidental death under the terms of your policy. Also, your death must be a direct result of any injuries sustained in the accident, and not from any infections or illnesses that may be contracted during hospitalization, or from any complications during surgery. If you die by suicide, attempt suicide, or intentionally injure yourself, there will be no payout, nor will your family receive benefits from this type of policy if the death is caused by physical or mental illness, or if you are killed in military action.
Again, these policies are best purchased by those in heavy industries such as construction or factory work, though there is often a workers’ compensation benefit that will more than likely cover any accidental death. The chance of an accidental death is actually very small, and the circumstances of payout so narrow, that it would make more sense to fully cover yourself with a standard life insurance policy.
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