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Accidental Death Benefit

   Also found in: Financial, Acronyms 0.01 sec.

A provision of a life insurance policy stating that if the insured—the person whose life has been insured—dies in an accident, the beneficiary of the policy—the person to whom its proceeds are payable—will receive twice the face value of the policy.

The insurance company that is liable for the payment of such a benefit will conduct a thorough investigation into the cause of death of the insured person before paying the claim.

Another name for an accidental death benefit is a double indemnity clause.



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Accidental Death Benefit provides a sum of money, in addition to the normal life cover under the policy, in the event of death solely through an accident, while Dismemberment Benefit pays out a lump sum of money in the event of accidental loss of sight or limb.
Firefighters often have been awarded accidental death benefits due to illnesses that can be linked to their jobs - cancer, for example.
If the death was found not to be from natural causes (such as an accident or a homicide), you will also need a copy of the investigative report to be eligible for additional accidental death benefits.
 
 
 
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