Yes, life insurance does pay out a death benefit for death resulting from an accident.
Regular life insurance policies pay for death from natural causes and accidents.
Whereas, an
accidental death life insurance policy will only pay out a death benefit if the insured person dies as a result of an accident.
However, acts of war and suicide are usually excluded from a regular life insurance policy. Suicide is excluded for a period of 1 or 2 years, depending on the state you live in.
In addition, you may want to review the exclusions section of your life insurance policy regarding exclusions for accidental death by overdose of drugs or alcohol.
If you had a history of drug or alcohol abuse and did not state that on the application for life insurance, and you died from an accidental overdose, the insurance company has a 2 year contestability period from the date you bought the policy where they can contest payment due to misrepresentation of a material fact.
