Factors To Consider While Adding Accidental Death Insurance Policy

Insurance policies protect us from any expenses which arise due to unforeseen events with accidents being one of them. In certain scenarios, despite being extremely cautious, accidents take place since they are inevitable.

However, they bring about with them deaths or severe injuries or even injuries. The treatment for these situations can burn a hole in your pockets.

Hence, having an insurance plan for your accidental death can be a smarter way to save your or your family’s financial future. With a plethora of insurance policies available in the market, choosing the right one that best fits your goals becomes difficult. Hence, there are certain factors that you must consider when purchasing an accidental death insurance policy. Read on to know more about them so that you can choose the policy better.

Factors To Consider While Adding Accidental Death Insurance Policy

Factors Affecting An Insurance Plan

Here are a few factors that decide the quality of the insurance policy you must buy:


The concept of ‘coverage’ with respect to insurance refers to the extent of liability or risk that an insurance plan takes care of or compensates for in the case of an unforeseen event or accident. It is imperative that you ensure that your Accidental Death Insurance Policy provides coverage for every possible accident that may take place in your daily life.

In addition to this, if you are a frequent traveller who travels abroad, you must take care of the fact that your insurance plan provides worldwide coverage along with every other coverage you may need.

Sum Insured

‘Sum Insured’ is the maximum amount that an insurance provider will compensate for during your policy tenure. Any medical costs beyond this limit will have to be taken care of by the insured individual. Hence, it is advisable to opt for an accidental insurance plan which provides coverage of a substantial amount. Let’s take an example. If your age is considered to decide your insured sum, the medical amount will be more if you are older. Hence, the insured sum must also be adequate enough to cover that medical expense at such an old age. 

Factors To Consider While Adding Accidental Death Insurance Policy


This is the sum of money which has to be paid to the insurance provider by the insured individual in exchange for their insurance coverage. Its scope basically depends on the terms and conditions laid down in the policy wording. Hence, it is imperative that you ensure that you receive the maximum amount covered for the sum you invest in your insurance plan. 


The inclusions are the scenarios that an insurance plan provides coverage for. With reference to a Personal Accident Insurance Plan, they refer to accidental scenarios which have been covered by your insurance policy. Hence when you are choosing an insurance plan, ensure that it provides coverage for highly probable accident situations.


Exclusions refer to the scenarios which an insurance plan does not provide coverage for. Hence, you must read through the policy document carefully to understand the situations which are not covered under the insurance policy. In certain cases, some exclusions can be covered by paying a higher amount of premium. Hence, you must ensure that the highly probable accidental scenarios are based on your needs, and are not mentioned under the exclusions.

Compensation To Family

Knowing about the benefits offered to your dependents/family by the insurance policy in cases of permanent disability and accidental deaths is a must. Hence, you must ensure that the insurance policy you purchase provides maximum compensation to your dependents in such cases.

Factors To Consider While Adding Accidental Death Insurance Policy

Insurance Provider’s Reputation

The reputation of an insurer says a lot about their services. Researching about their reputation while choosing an ideal Accidental Death Insurance Policy will help you receive better services. The claim settlement ratio of an insurer shows their claim settling probabilities.

In addition to this, if you wish to find out their reputation, you can even check the online ratings, testimonials and reviews posted by their previous or existing customers. This way, you can get a good idea about the quality of the services you will be provided with if you get their insurance plans.

Exit Age

The eligibility age for purchasing an insurance plan is known as an ‘entry age’. The age beyond which you cannot buy or renew your insurance policy is known as an ‘exit age’. Hence, while selecting an accidental insurance policy, you must choose a plan which has a higher exit age as a criteria. This will enable you to ensure that you will have accidental covers even when you grow older.

Network Hospitals

Insurance providers usually tie up with some hospitals to settle their bills on behalf of insured individuals. These hospitals are known as network hospitals which accept cashless treatment. Hence, you must ensure that your insurance company has accessible and reliable network hospitals so that you can avail of your services with ease. 

Accidents are inevitable, unforeseen, and unfortunate events which are financially draining. Hence, it is imperative that you proactively secure yourself and your loved ones from the financial aftereffects that they bring along with them. An Accidental Death Insurance Policy does that by providing exclusive coverage against accidental medical expenses. Hence, choose the one that best fits your goals and ticks the above-mentioned criteria the most.

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