Accident Life Insurance Policies

What does Accident Life Insurance cover?

Accident Life Insurance, also known as double indemnity, may be added to an insurance policy to provide for an additional amount to be paid to the beneficiary should the insured person die as the result of an accident. This additional amount, usually referred to as the “principal sum”, is generally an amount equal to the face value of the policy (thus the term double indemnity). It could, however, be three or more times the term life insurance policy’s face value.