Term
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Definition
Broadly covers many risks, such as the loss of income because of disability; the costs of medical care and treatment; and the costs of care not covered by government plans. |
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Term
| ACCIDENTAL DEATH BENEFIT RIDER |
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Definition
Designed to provide an additional amount of insurance if the insured dies as a result of an accident. The additional amount is typically double or triple the amount of the base policy’s face
value. |
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Term
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Definition
One of the ways in which an AD&D policy pays its benefit. (The other way is the accidental results requirement.) Requires both the cause and the result of an accident to be by chance for
the policy to pay the benefit. |
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Term
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Definition
Accidental death and dismemberment insurance. These policies provide financial support if the insured dies or is dismembered from an accident. AD&D policies are a form of limited risk
policy. |
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