Planning for the future can give you peace of mind, especially when it comes to unforeseen and unfortunate events. Accidental death insurance can help your family in case you die because of an accident. While difficult to think about, this coverage provides protection if the unexpected happens, and can give you peace of mind knowing your loved ones will be supported financially.
What is accidental death insurance?
Accidental death insurance is a type of coverage that provides a tax-free cash pay-out to your loved ones if you die due to an accident. An accident is a bodily injury that happens as a direct result of a violent, sudden, and unexpected action from an outside source.
You can choose coverage from $25,000 to $500,000, bought in units of $25,000. You’re automatically accepted since this is a type of guaranteed life insurance and will be covered until you turn 70 years old, provided you pay your monthly premiums.
Who should consider accidental death insurance?
- People who want to top-up their existing life insurance in case of accidental death
- People who want affordable insurance without answering any health questions
What are the eligibility criteria for accidental death insurance?
To qualify for accidental death insurance in Canada, you must:
- Be legally living in Canada
- Be between the ages of 18 and 65
Add up to $500,000 to your life insurance coverage without any health questions.
You’re guaranteed to qualify - no medical questions asked.
This type of insurance will only pay if you pass away within 90 days of, and as a direct result of an accident and before you reach age 70.
Cancel anytime and receive a full refund when you cancel within the first 30 days.
What is covered under accidental death insurance?
The accidental death benefit is paid if you die:
- While your policy is in effect
- As a direct result of an accident
- Independently of any other cause
- Within 90 days of the accident, and
- Before your 70th birthday
The accidental death benefit won’t be paid if you die as a direct or indirect result of:
- Operating a vehicle while your blood alcohol level is more than 80 milligrams of alcohol per 100 milliliters of blood – whether the vehicle was moving or not.
- Committing or trying to commit a crime.
- Taking, or trying to take your own life or injure yourself. This is regardless of whether you had a mental illness or understood or intended the consequences of your action(s).
- Taking drugs other than those prescribed by a licensed medical practitioner.
- Inhaling or ingesting any poisonous substance or inhaling any type of gas - whether voluntarily or not.
- Having a mental or physical illness or receiving treatment for that illness.
- Receiving dental or surgical treatment.
- Getting an infection - unless the infection was caused by an external, visible wound received in an accident.
- Travelling by air, which includes leaving the aircraft. This is unless you’re a fare-paying passenger on a regularly scheduled airline.
Find more exclusions and limitations in the Sun Life Go Accidental Death Insurance sample policy.
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Frequently Asked Questions
What is the difference between natural death and accidental death?
Natural death results primarily from a disease or illness. Accidental death is the result of an accident and is determined when there is little or no evidence of an intent to cause harm.
The details of a policy will determine whether the circumstances of the insured person’s death will qualify for an accidental death benefit payout.
Consult our accidental death insurance sample policy to learn more about exclusions and limitations.
How much accidental death insurance coverage can I get?
You can get accidental death insurance coverage of $25,000 up to $500,000 in units of $25,000. Speak to an advisor to determine how much accidental death insurance is right for you.
Can you cash in an accidental death policy?
No, accidental death insurance doesn't have a cash value. For the first 30 days of an accidental death life insurance policy, you can cancel the coverage and get your money back.
Sun Life Assurance Company of Canada is the insurer, and is a member of the Sun Life Financial group of companies. Sun Life Financial Distributors (Canada) Inc. is licensed to offer life and health insurance in all jurisdictions in Canada.