Accidental Death and Disablement Insurance is a distinct insurance coverage employers or associations may offer their employees or members as a tax-free benefit inclusive in their unique Blended Plan. This insurance offers payouts to policyholders and their dependents in the event of an accident causing death or disablement.
Pacific Rim Administration Services Ltd. through D.D. Anderson Life Insurance Consultants Ltd., a Licensed Canadian intermediary with licenses under the Insurance Act of each province in which we offer our services, has negotiated a master contract with BMS Specialty Risks Underwriting Managers Ltd., and effected with certain Underwriters at Lloyds, London, England, to provide this insurance at preferred rates to all client groups – large or small.
What it Covers
- Accidental Death and Disablement insures policyholders, and their eligible dependents, for any covered loss resulting from injury, 24 hours per day, anywhere in the world.
- Principal benefit sums start at $100,000, and can be paid out in units of $50,000 to maximum of $500,000.
- If the policyholder has included no dependent children in their policy, the spousal benefit will equate 50 per cent of the principal sum applicable to the employee.
- For plans that include spouse and dependent children, 40 per cent of the principal sum will be benefited to the spouse and five per cent to each dependent child.
- In policies that include no spousal coverage, only coverage for dependent children, 10 per cent of the principal sum will be benefited per dependent child.
Note: Accidental Death & Disablement Insurance is only deemed a tax-free benefit if provided independently, not as a rider of, a group term life plan.
A wide range of supplemental benefits are also included within this policy to help families recover from an event involving accidental death or disablement:
- Exposure and Disappearance: If, by reason of an accident covered by the policy, an insured person is unavoidably exposed to the elements and, as a result of such, suffers a loss, the loss will be covered.
- Beneficiary Designation: In the event of the accidental death of an insured employee, the benefit will be payable to the beneficiary or beneficiaries designated. If no beneficiary is named, payment will be made to the employee’s estate.
- Repatriation Benefit: In the event of an accidental death, occurring no less than 50 kms from the insured employee’s usual place of residence, the insurer will pay up to $10,000 toward preparation and transportation of the body.
- Rehabilitation Benefit: If an insured employee sustains a covered injury and undergoes retraining for an occupation in which they would not have engaged except for such injury, the insurer will pay up to $10,000 for the training (so long as no duplicate benefits payable under any other insurance are applicable).
- Occupational Training Benefit: In the event the insured employee suffers an accidental death, the insurer will pay up to $10,000 toward occupational training for the spouse (again, so long as no duplicate benefits are issued by other insurance coverage).
- Education Benefit: If the insured employee suffers an accidental death, the insurer will pay up to $5,000 per year for each dependent child toward higher learning in the province of residence. This includes dependents still in secondary school, but who enroll as full-time students in a school for higher learning within one year of the death.
- Personal Mobility Benefit: If an insured person sustains an injury which results in a loss payable, and claims within two years, the insurer will pay up to $50,000 toward:
- a wheelchair
- a specially modified vehicle with a wheelchair lift
- any specially designed personal lifting device for the insured person ‘s home or vehicle
- Child Care Benefit: If an insured person sustains an injury which results in a loss payable, the insurer will pay up to $5,000 per child for four years toward qualified childcare.
- Home Modification Benefit: If an insured person sustains an injury which results in the loss or loss of use of both feet and both legs, or results in quadriplegia, paraplegia, or hemiplegia, the insurer will pay up to $25,000 toward appropriate alterations to the insured person’s residence to make it wheelchair-accessible and habitable.
- Family Transport and Subsistence Benefit: If an insured person sustains an injury which results in a loss payable, the insurer will benefit up to $10,000 toward the attendance of a family member, or close friend, at a hospital no less than 250 kms from the insured person’s home. Expenses may include food, lodging, living, and economy class transportation for up to 10 days.
- Seat Belt Benefit: If an insured person sustains an injury that results in a loss payable while wearing a seat belt, the benefit will be increased by 10 per cent.
- Disability Fitness Benefit: If an insured person sustains an injury which results in a loss payable, the insurer will pay up to $5,000 toward specially designed fitness training or athletic equipment.
- Waiver of Premium Benefit: When injury or sickness totally disables and prevents the insured employee from engaging in employment, the insurer will waive the premium due.
- Common Disaster Benefit: If an accidental death is sustained by both the employee and their spouse as a result of a covered common accident, or successive accidents occurring within a 24-hour period, the principal sum for the spouse will be increased to equal the employee’s.
- Conversion to an Individual Insurance Contract: If the policy is terminated for any reason other than non-payment of premium or attainment of age 70, the insured person will be entitled to have issued to them an individual policy subject to some conditions, however no medical evidence of insurability will be required.