High Limit Accident Insurance provides Accidental Death and Dismemberment (AD&D) coverage. Accidental death benefit is paid out, as the name suggests, in case of an accidental death. Dismemberment benefits are paid in case of disability such as losing one or two limbs (leg, hand, eye, ear etc.) or loss of speech. It can also pay the complete benefit amount in case of sudden cardiac arrest. That can be a very valuable benefit at the time the insured needs it the most. You can choose whether you want accidental death only or would like to add dismemberment or accidental permanent total disability to the base policy.
In addition to getting the regular AD&D coverage you can also get the coverage for war and terrorism or due to hazardous activities.
You can purchase several levels of coverage such as 24-hour coverage, common carrier coverage, air travel only coverage. Of course, wider the coverage you choose, higher the premiums would be.
High Limit Accident insurance is underwritten by Lloyds of London, rated A Excellent by A.M. Best.
Payment of benefits is also quite flexible as you can take the benefits in one lump sum or in equal annual installments. Also, the benefits are payable in addition to any other plan.
Regarding the dismemberment, it can cover the accidental bodily injured sustained while the Certificate is in force and which results in loss within 365 days of the date of the accident.
You are not required to go through any medical examination to apply for the insurance and you can send the application by fax or email also. Underwriting takes anywhere from one to four business days.
Please note that the benefit limit may not exceed ten times the annual income unless otherwise justified.