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- double indemnity noun a clause in a life-insurance or accident-insurance policy providing for payment of twice the face value of the policy in the event of accidental death.
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Apr 13, 2022 · The meaning of DOUBLE INDEMNITY is a provision in a life-insurance or accident policy whereby the company agrees to pay twice the face of the contract in case of accidental death.
a statement in an insurance agreement in which the company agrees to pay twice the usual amount if a person dies in an accident: Coverage was doubled to $200,000 because the death was accidental and subject to a double indemnity provision.
Jun 9, 2023 · Double indemnity is a clause in a life insurance policy that states the insurance company will pay twice the amount of money stated in the standard life insurance contract if the death of the insured results from an accident.
Double indemnity, in simple terms, means that the insured person's beneficiaries will receive a payout that is twice the original policy's face amount if the insured dies as a result of an accident. This additional payment is in addition to the basic benefit provided by the insurance policy.
Double indemnity is a term that often pops up in the context of insurance policies, particularly life and accident insurance. Simply put, it refers to a special clause that promises to pay out double the amount of the insurance policy if the insured person dies due to an accident.
double indemnity noun a clause in a life-insurance or accident-insurance policy providing for payment of twice the face value of the policy in the event of accidental death.
Double indemnity pays twice the amount of the policy face value if death results from accidental causes, as if both a full coverage policy and an accidental death policy were in effect on the insured.
