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What is the difference between accidental life insurance and regular life insurance?
Accidental Life insurance only pays out if you die in an accident. There are limitation and restrictions on some ADD policies such as the accident has to be a common carrier. Others will cover you for any accident such as a piano dropping on your head. Regular life insurance simeply covers you if you die regardless of cause. The first 2 years do have restrictions such as suicide or pre-existing conditions. If you are trying to determine what type of insurance to buy, buy regular life insurance and you can always add on ADD to that policy. 4lifeguild
Accidental life insurance is taken against death by accidents. It will also compensate you incase of any permanent loss of limbs, sight, etc. Some accident policies may also cover hospital expenses and any surgery that may be required due to the accident.
Life insurance pays death benefits to beneficiaries no matter how the person dies. Some life insurance policies also ride accident insurance to provide double indemnity.
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Usually the only difference between accidental death life insurance and regular life insurance is the name, although sometimes an accidental death life insurance will pay out more money if the death is accidental.
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Life insurance provides a death benefit to beneficiaries when the policyholder passes away, while an annuity provides regular payments to the policyholder during their lifetime.
