Founder, Abrams Insurance Solutions, Inc., San Diego, CA
No, a life insurance policy does not pay out triple if killed on a business trip. The stated death benefit is paid out regardless of how death occurs. There is a contestability clause in the policy stating that suicide is not covered for the first 2 years of the policy.
It is possible for a life insurance policy to pay a triple benefit, including if you are on a business trip.
Some group term life insurance policies, and a few individual term plans, have an AD&D (accidental death and dismemberment) provision that pays a multiple of the face if death occurs due to accident. The "triple" benefit (if included) pays in the event you are killed while traveling on a common carrier.
Self-employed Employee Benefits Provider, Upland, California
One last comment to Bob Vineyard's answer. Some life companies, subject to their underwriting conditions, will allow a rider(at an additional cost) to be added to a life policy, which can double or even triple the face amount of coverage if death is due to an accident. These life companies may also limit the total amount of death benefit though, to a maximum amount as stated in the policy. It should be noted though that not all life companies offer more than "double indemnity" (twice the face amount), and you should check with with your insurance professional to see what companies may allow this increased rider amount.
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Some group term life insurance policies, and a few individual term plans, have an AD&D (accidental death and dismemberment) provision that pays a multiple of the face if death occurs due to accident. The "triple" benefit (if included) pays in the event you are killed while traveling on a common carrier.