Accidental Death Benefit

Accidental Death Benefit is an additional payout provided if the insured person dies due to an accident, supplementing the base policy's death benefit.

What is a Beneficiary?

In life insurance, a beneficiary is the person or entity, such as a trust or organization, named in the policy to receive the death benefit upon the insured’s passing. The policyholder can name multiple beneficiaries and designate the percentage of the benefit each will receive. This designation is important as it ensures that the death benefit is paid according to the policyholder’s wishes.

Beneficiaries can be primary or contingent. A primary beneficiary is the first in line to receive the death benefit, while a contingent beneficiary receives the benefit if the primary beneficiary is no longer alive or unable to accept it.

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