You are covered in case you die of an accident when you purchase a regular life insurance policy. If you die from an accident, this rider provides an additional benefit on top of the policy’s regular death benefit. The option is often referred to as double indemnity when the additional payout equals the original death benefit. It might be cheaper to get additional life insurance coverage rather than buying an accidental death benefit rider.
The accidental death benefit is payment due to the beneficiary of an accidental death insurance policy, which is often a clause or rider connected to a life insurance policy. The accidental death benefit is usually an amount paid in addition to the standard benefit payable if the insured died of natural causes. Accidental death benefit riders are suitable for people who work in or around potentially hazardous environments or who drive more than average. These riders typically end once the insured person reaches age 70.