Similar to Life Insurance, and is designed to cover death by accidents only and pays a lump sum. Underwriting and costs are therefore minimal.
The benefit is normally only paid if accidental death occurs whilst a fare paying passenger on an recognised airline, passenger boat or train or a passenger road transport vehicle.
These benefits are attractive to younger ages, for whom death by illness is less likely, and the premiums are inexpensive.
Caution: Some Banks and Credit Card companies, make special offers using this product, and it is not apparent that only Accidental Death cover is offered.
If you would like more information about accidental death insurance please go to: NZlife
If you have questions you would like answered email us - here.