Accidental Death Insurance
An accidental death insurance policy will pay out an agreed lump sum of money if the policy holder dies within a certain period of time after an accident.
What is the difference between accidental death insurance and life insurance?
Accidental death insurance is a limited type of life insurance policy.
- Life insurance will pay out a lump sum of money if the policy holder dies from an illness or an accident.
- Accidental death insurance will only pay out if the policy holder dies within a certain period of time after an accident, usually 90 days. It will not cover death from natural causes.
Many life insurers offer free accidental death benefit to customers whilst they process their application for life insurance.
What does accidental death insurance cover?
Accidental death insurance will usually cover road traffic accidents, fatal accidents at home, work or on holiday, a range of dangerous occupations, dangerous hobbies and worldwide travel. To be eligible for a policy you will usually have to be between the ages of 18 and 80, and no medical is required on application. Cover may differ between accidental death insurance quotes.
Are there any exclusions?
Unlike life insurance, an accidental death insurance policy will not cover death from natural causes. Most policies will also exclude cover for:
- Suicide or deliberate self-harm
- Accidents occurring under the influence of alcohol or drugs not prescribed by a medical practitioner
- Flying unless travelling on a recognised airline
- War risks
- Pre-existing conditions you knew about when you took out the policy
Do I need accidental death insurance?
Although accidental death benefit can be cheaper than life insurance, the cover it offers is limited in comparison.
If you want peace of mind, life insurance might be a wiser choice of policy. It will cover accidental death as well as offering many other benefits. Compare life insurance quotes from the leading UK insurers online now for more information.