Accident Only or AD&D Insurance refers to a specific type of coverage offered by insurance policies that provide financial benefits in the event of an accident. These policies cater to scenarios involving death, dismemberment, disability, or necessary medical and hospital care resulting from an accident. They do not cover health issues or incidents that are not categorized as accidental.
Types of Accident Only or AD&D Coverage
- Student Accident: Coverage for accidents occurring in educational settings.
- Sports Accident: Coverage for injuries specifically during athletic activities.
- Travel Accident: Protects against accidents happening during travel.
- Blanket Accident: Broad coverage that typically applies to all members of a group (e.g., employees or organization members). -Specific Accident: Coverage for accidents of specific types or in specified circumstances. -Accidental Death and Dismemberment (AD&D): This plan pays benefits for death or specific injuries resulting from accidents.
AD&D Coverage Overview - Insurance Information Institute provides further insight on how these policies work.
Governing Laws and Regulations
Various federal and state laws might regulate aspects of these policies such as consumer rights, obligatory disclosures, and claims handling. United States Code Title 26 26 U.S. Code § 7702 defines categories of life insurance contracts, environments that, to some extent crossover to accident insurance definitions and provisions in $ he United$ States.
Note: Coverage details and policy inclusions/exclusions may vary significantly between different insurers and should be thoroughly reviewed with an insurance professional before finalizing.
