Search results
- 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/dictionary/english/double-indemnity
People also ask
What is Double Indemnity in life insurance?
What is a double indemnity rider?
What are the advantages of Double Indemnity Insurance?
Can a beneficiary qualify for double indemnity benefits?
Do insurance policies have Double Indemnity clauses?
Will my insurance company pay a double indemnity claim?
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 Explained. Double indemnity is a contract provision that is typically found in life insurance and accidental death insurance policies. This is a type of life insurance that mandates that carriers pay up to twice the amount of the face value of an insurance contract if the insured (or policyholder) dies as a result of 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.
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 clause in life insurance policies that provides for the payment of double the policy's face value in the event of the policyholder's accidental death.
