Insurance Term of the Week (2)

For our second week, we have chosen - ACCIDENTAL DEATH BENEFIT (ADB).

Definition
A supplementary life insurance policy benefit that provides a death benefit in addition to the policy’s basic death benefit if the insured’s death occurs as the result of an accident.

Key Features

• All benefits are paid in addition to any other policy or family income entitlement.
• All cash benefits are free from income tax. (Under current legislation).
• Low monthly premiums.
• No medical examination.
• This type of policy is generally available to anybody aged between 18 and 81 who resides permanently in the United Kingdom.