Voluntary Accidental Death And Dismemberment (AD&D) Insurance
Definition of "Voluntary accidental death and dismemberment (AD&D) insurance"
Additional amount of accidental death and dismemberment insurance not provided by the employee benefit plan (standard group life plan) that may be chosen by the employee. Generally, the employee pays the entire premium that is deducted through the employer's payroll deduction accounting system used for other employee benefit plans.
Popular Insurance Terms
Account established and administered by a state agency to finance a mandatory insurance program, for example, workers compensation insurance. ...
Actuarial procedure used to determine the cost of protection of a cash value life insurance policy on an annual basis. This cost of protection is developed by the following steps: Cash ...
Dividend paid in addition to the regular dividend on a participating insurance policy. ...
Extra layer of life insurance coverage. This term is often applied to double indemnity. For example, some life insurance policies provide a death benefit of a multiple of the face value if ...
Evidence of a temporary contract obliging a life or health insurance company to provide coverage as long as a premium accompanies an acceptable application. This gives the company time to ...
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Addition to a basic insurance policy to further explain coverages, add or exclude perils and locations covered, and add or delete positions covered. For example, an endorsement to the ...
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