What is it?
AD&D insurance provides coverage for an accident resulting in death or loss of limbs, use of limbs, sight, speech or hearing.
AD&D insurance is optional and if chosen, the amount of AD&D insurance must equal the amount of life insurance.
How will it benefit my employees?
If an employee or his/her dependant dies or is permanently injured due to an accident, AD&D insurance provides financial compensation.
How does it work?
Employees are covered anytime, anywhere – whether at work, at home or on vacation.
Provides a payment upon death or dismemberment resulting from an accident.
Contract and booklets will include a table of covered losses with amounts varying from 1/8 the principal sum to 2 times the principal sum depending on the severity of the injury.
Any loss listed in the table of losses is considered a covered loss if it occurs as a direct result of the injury, independent of all other causes, occurs within 1 year after the accident, and in the case of loss of use, is continuous for 1 year.
AD&D benefits also include repatriation benefits (transportation of body), educational benefits, family transportation benefit and wheelchair benefit.
No benefits will be paid for loss resulting from or associated with:
– Suicide or intentionally self-inflicted injury while sane or insane
– Disease or infirmity
– Medical or surgical treatment, except surgical reattachment Service, including part-time or temporary service, in the armed forces of any country
– War, insurrection, or voluntary participation in a riot
– Air travel, ascent, or descent, except as a passenger in a licensed aircraft flown by a pilot certified to fly the aircraft
Coverage continues for as long as the employee’s benefits are in effect, up to age 71. The amount of AD&D insurance reduces by 50% at age 65.