What is Double Accident Benefit?

  1. 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.
  2. 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).
  3. 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.


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