Adding an accidental death and dismemberment rider to a term life policy is an ideal way for those who need extra protection to get combined and comprehensive coverage.
Accidental death and dismemberment riders are also known as A D & D Riders as well as Multiple Indemnities. Multiple indemnities mean that an insurance company will pay a multiple of the policy’s face value. This is the amount that the policy would pay to the beneficiary in the event of the death of the insured person.
One common example of indemnities is double indemnities. This pays an equal amount to the face value of the policy so if the insured person dies in an accident, the beneficiary receives the policy face value and the A D & D Rider face value, which is twice as much as the original amount.
Additional Occurrences Covered by an A D & D Rider
Depending on the rider coverage you choose to add to your term life insurance policy, A D & D Riders may also cover loss of sight or the loss of one or more limbs. Of course, you would have to double check the provisions of your policy as each carrier stipulates specific designated time frames when payment can...
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