Accident Cover Benefits

Life Cover Disability Cover Income Protector Functional Impairment Benefit Critical Illness Benefit Accident cover benefits

Definition and description of accident cover benefits

As with all the other benefits from different insurers, accident benefits have different descriptions and prices can’t be compared with each other because the names are similar. At the better known, major, respected insurers in South Africa you will find mainly 3 kinds of accident benefits. With ACCIDENTAL DEATH The Insurer will pay the benefit as a lump sum in the event of the life insured’s death, resulting directly and solely from a bodily injury. With ACCIDENTAL INJURY The Insurer will pay the benefit in the form of a defined percentage of the cover amount linked to the particular claim event as set out below. With ACCIDENTAL DISABILITY The Insurer will pay the cover amount as a lump sum if the life insured becomes disabled as a result of an accident.

Accident benefits is also known as:

Some of the names the accident benefit is also known by at some of the major roleplayers in the financial services industry are: Unnatural Death Benefit Accidental Death Benefit Accidental Disability and/or Death Benefit Accidental Injury

The application of accident benefits are for:

Financial security: Provides funds that may be used to ensure that the current standard of living of the beneficiaries of the policyholder can be maintained. Debt protection: Provides funds that may be used to help pay off mortgages and other outstanding debts.   
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