Rahul
05-11-2009, 04:53 PM
What is Double Accident Benefit?
Double accident benefit in a life insurance policy provides for the payment of an additional amount equal to the sum assured in case of the death of a policyholder owing to an accident.
Proposer can opt for double accident benefit by paying an additional premium payment of only Re1 a year against an assured sum of Rs1,000 (this can vary with different insurers).
Furthermore, the death of the insured must follow within a specified period of injury, which is typically 90-180 days. Usually, the compensation is subject to an upper limit stated in the policy.
Double accident benefit in a life insurance policy provides for the payment of an additional amount equal to the sum assured in case of the death of a policyholder owing to an accident.
Proposer can opt for double accident benefit by paying an additional premium payment of only Re1 a year against an assured sum of Rs1,000 (this can vary with different insurers).
Furthermore, the death of the insured must follow within a specified period of injury, which is typically 90-180 days. Usually, the compensation is subject to an upper limit stated in the policy.