In Canada, basic life insurance covers all cause of death including accidental death. In fact life insurance even covers suicide after the policy is in force for 2 years (or 2 years after reinstatement)
We used to describe accidental death insurance as shock insurance, since there is no time to prepare. Often it is challenging to determine if a death or not. For example, a driver goes off the road and hits a tree and dies, did his heart stop before hitting the tree (natural causes) or after he hit the tree (accidental death).
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.
All policies cover death by accident. Accidental death and dismemberment ( AD&D) policies will only cover death this way. These are very popular 'add on' policies, to provide 'extra' coverage in the event of an accident, but many people mistakenly think they are covered for much more than they may really be. Passing out from drinking and crashing the car resulting in death may not be covered. (Yes, there was an accident, but the circumstances that caused the crash were not one, in this example) There are sometimes limitations in whole life and term policies also. As always, I'd advise you to ask an agent for more specific details. Press the 'contact me' button, I'd be glad to help with any questions you may have!
Yes, Basic Life Insurance does cover accidental death, as well as death due to natural causes (i.e. illness, old age). You sometimes have the option to put an Accidental Death rider on a basic life insurance policy. This increases the amount that would be paid to your beneficiary if you died accidentally, as opposed to dying from natural causes. Usually accidental death riders are offered in options of multiples of your basic death benefit. E.g. Your policy would pay $100,000 if you died of illness. But with the Accidental Death rider it would pay 2 times that amount, or $200,000, if your death was due to an accident of some sort. However, without that rider, the policy would still pay $100,000 for death due to accident OR natural causes.
Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
Yes, a basic Life Insurance policy, as you call it, would cover for accidental death just as it would for death by any natural cause. There are policies that ONLY provide benefits if the insured dies as a result of an accident. Such coverage might be one's only option if one has a medical history or works in a hazardous profession that might make them ineligible for a traditional life insurance plan. Generally these accidental death policies are less expensive and are not medically underwritten, but obviously, are much more narrow in scope.
Yes, accidental death is covered the same as an illness or murder as a cause of death. "Basic life insurance" covers all causes of death with the exception of a suicide which would not be covered for a two year elimination period on most polices. You can add an accidental death rider to most life insurance plans that would double the face amount in case of an accidental death for usually a very affordable premium depending on underwriting.
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We used to describe accidental death insurance as shock insurance, since there is no time to prepare. Often it is challenging to determine if a death or not. For example, a driver goes off the road and hits a tree and dies, did his heart stop before hitting the tree (natural causes) or after he hit the tree (accidental death).
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.