Imagine the peace of mind you can bring to your loved ones in their time of need. Accidental death insurance is a protective option that can offer financial assistance if you were to die from harm triggered by a protected accident, providing much-needed relief during a difficult time.
According to Canadian statistics, accidents are among Canada’s top five leading causes of death. A quick demise can generate financial stress for the departed person’s family. This protection can assist the individuals you cherish by offering financial assistance in the event of a protected accident.
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Meaning Of Accidental Death And Dismemberment Insurance
Accidental death and dismemberment insurance, often referred to as AD&D insurance, is your shield against unexpected tragedies. It protects you if you unanticipatedly pass on due to causes other than natural ones, providing a sense of security in uncertain times.
For instance, it protects a person’s demise in a vehicle crash or workplace accident. However, it would not protect a person who passes on cancer or a heart attack.
Accidental death and dismemberment insurance, which is also described as accident insurance as well protects against dismemberment. This is interpreted as losing a part of the body or function, such as hearing or sight loss.
What Accidental Insurance Covers In Canada
Accidental death and dismemberment insurance is not formed to be a replacement for conventional life insurance because it provides certain protection that applies under specific events.
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It protects against accidental death and also dismemberment, which has to do with the loss or loss of limbs, eyes, ears, and other body parts during an accident.
Instances of deaths that might be protected by Accidental death or dismemberment insurance have to do with the following:
- Road accident
- Drowning
- Accident has to do with heavy tools
- A fall
The Benefits Of Accidental Death And Dismemberment Insurance
Accidental death and dismemberment insurance is more than just a safety net. It’s also known as double indemnity insurance, which means your beneficiaries could receive two separate reimbursements if you pass on during an accident. On top of the life insurance benefit, this additional benefit ensures that your loved ones are well taken care of.
Who Should Get Accident Insurance
While anything may occur to anybody, individuals who get employed in jobs with an increased threat of a workplace accident may discover accident insurance mainly attractive. Accident insurance is commonly only provided up to a specific age. For instance, it protects up to the age of 85.
Note: Accidental Death and Dismemberment insurance only protects certain conditions and is comparatively affordable.
Where You Can Purchase Accident Insurance
Accident insurance can be purchased anywhere you bought your life insurance policy. For instance, if you have workplace gains with a Canadian firm, you can attach this protection to your policy to select accident insurance for qualified people under your plan. It may already be an aspect of the group benefit plan chosen by your employer.
