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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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50% - Moderately

Accidental Death & Dismemberment


Acronyms &
abbreviations:
AD&D, ADD
Notes:A life insurance policy.
Tags: accident insurance, disability insurance, insurance
 

Definition of accidental death & dismemberment (AD&D, ADD)

accidental death & dismemberment (AD&D, ADD)
1. An insurance policy that provides coverage in the event of an accidental death or dismemberment, which can include the loss, or the use of certain body parts (including limbs or eyesight). Natural deaths are not covered by accidental death and dismemberment insurance policies, and the policy is only available attached as a rider to a health or life insurance policy. Depending on the policy, partial dismemberment (the loss of a single eye for example) may not qualify the insured for benefits.

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