Compensation Claims on Accidental Deaths
We all have been victim to accidents at some point of our life. It might be minor or at times can also be fatal. Accidents are unpredictable and no matter how careful you are, you can’t prevent it. Take the case of road accidents. It keeps on happening in every country everyday, but can you guarantee that you can escape it. Several times, we fall victims to accidents without any of our own fault.
If you have purchased a life insurance along with an additional accidental policy, your near and dear ones will benefit the double indemnity in the event of your death resulting from an accident. If you are lucky enough to survive from the accident with serious injury, a percentage of compensation will be made by the insurance company to the insured. But this depends on how serious was the injury.
But accidental death benefit rider is very inexpensive. If you are buying a life insurance policy, your insurance agent will ask you to add an accidental death benefit rider as accidental compensation is not covered under the life insurance. But with this additional accidental policy, the buyer will receive compensation if he suffers injury resulting from accident. Even if you have already purchased a life insurance without accidental death benefit rider, you can add it later as this policy is renewable annually.