Accidental Death And Dismemberment Insurance

Definition of "Accidental death and dismemberment insurance"

Andy Schramek real estate agent

Written by

Andy Schramekelite badge icon

Keller Williams Five Star Properties

Form of accident insurance that indemnifies or pays a stated benefit to insured or his/her beneficiary in the event of bodily injury or death due to accidental means (other than natural causes). For example, an insured's arm is severed in an accident. A predetermined schedule of payments is used to compensate the insured for this particular loss. The schedule also lists the sums payable for other parts of the body that may be lost, or for death by accident.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Method of comparing the costs of a set of cash value life insurance policies that takes into account the time value of money. The true costs of alternative cash value policies with the same ...

Federal legislation passed in 1974 that mandated that legislators in all states that are in receipt of federal funds for health care review and approve any planned capital expenditures to ...

Stipulations of the rights and obligations of an insured and an insurer under a policy. ...

Item given or sold to a buyer that establishes a standard of quality by which later products will be judged. Since the uniform commercial code does not distinguish between a sample and a ...

Third-in-line beneficiary to receive benefits from an insurance policy should the primary and secondary beneficiaries not survive. ...

Interest earned on dividends from a participating life insurance policy left on deposit with the insurance company and subject to taxation. ...

Monetary value of the reputation of a business. Goodwill is an intangible asset and thus may be difficult to measure. ...

Policy similar to that of an individual universal life insurance policy except that the coverage is provided (up to a limit) without the requirement of the submission of evidence of ...

Length of time required to amortize the excess expenses of acquiring a given group of life insurance policies. In acquiring a policy, a life insurance company may incur expenses (such as ...

Popular Insurance Questions