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- 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.
dictionary.cambridge.org/us/dictionary/english/double-indemnity
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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.
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 is a legal term that refers to a clause in an insurance policy that pays out double the amount of the policy if the insured person dies in an accident. This means that if someone has a life insurance policy with a double indemnity clause and they die unexpectedly, their beneficiaries could receive twice the coverage amount.
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.
What Is Double Indemnity? Many life insurance and accident policies include a double indemnity clause or provision. The clause is related to the insurance term “indemnity,” which means that one party will provide financial compensation to another party after a loss.
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.
