Accidental Death Clause
Definition of "Accidental death clause"
Written by
Patti Bowman & Lisa Bowman Zeiter, Associate Brokers
Group One Sotheby’s International Realty
in a life insurance policy, benefit in addition to the death benefit paid to the beneficiary, should death occur due to an accident. In double indemnity, twice the face value of the policy will be paid to the beneficiary; in triple indemnity, three times the face value is payable. Accidental death caused by war, aviation except as a passenger on a regularly scheduled airline, and illegal activities is generally excluded. Time and age limits are usually applicable, as for example, the insured must die within 90 days of the accident and be age 60 or less.
Popular Insurance Terms
Portion of company profits allocated by an employer, in good years, to an employee's trust. Contributions on behalf of each employee are expressed as a percentage of salary with 5% being ...
Unexpected claims occurring above the expected claims for which a contingency reserve is maintained. ...
Tax on the right to acquire assets that are transferred to a beneficiary at the death of the owner of those assets. ...
Personal insurance method used to analyze the amount necessary to maintain a family in its customary life-style, should the primary wage earner die. This includes such considerations as: ...
Legal document setting out the rules to be followed by a trustee in administering assets of a trust. The trust agreement may limit investment of trust assets to specified types of ...
Excess liability coverage above the limits of a basic business liability insurance policy such as the owners, landlords and tenants liability policy. For example, if a basic policy has a ...
Provides the same coverage as a comprehensive personal liability insurance policy, plus coverage to exposures that are peculiar to farms, such as farm business operations, farm employees ...
Rules of conduct and commissions paid to agents. For example, under the rules of conduct agents may be required to submit all of their business to only that agency. The contract also lists ...
Effort by an individual to continue to receive disability income benefits by taking a continuing sickness or injury. ...
Have a question or comment?
We're here to help.