Accidental death insurance is a unique option sometimes sold as accidental death and dismemberment coverage, it is usually purchased alongside medical and life insurance, and is limited in scope.
Accidental death life insurance, or loss of life insurance, is an important addition to any policy. For example, if you carry a $10,000 life insurance policy and add a $5,000 loss of life or accidental life insurance policy, your beneficiaries will receive $15,000 should you die in a qualifying accident.
Loss of life insurance does have some exclusions. One of the main exclusions is death due to surgical complications, and loss of life due to high-risk activities. If you die while skydiving, an accidental death policy will not pay because skydiving is considered a high-risk activity. If you participate in high-risk activities, you may want to consider a policy that is designed to cover that particular activity.
Typically, accidental death cover insurance should be purchased in connection with your health and life insurance policies. Our friendly team at WellAway can help you select the right accidental death insurance. A loss of life insurance policy should be a top consideration for travelers to high-risk nations as well. Call us to learn more!