(in life assurance policies) a clause providing for the payment of double the policy's face value in the event of the policyholder's accidental death
double indemnity in American English
US
a clause in life insurance policies providing for the payment of twice the face value of the contract in the case of accidental death
double indemnity in Insurance
(dʌbəl ɪndɛmnɪti)
noun
(Insurance: Life insurance)
Double indemnity is a clause in life insurance policies that provides for the payment of double thepolicy's face value in the event of the policyholder's accidental death.
Under the double indemnity rider, if death occurs through accident, the insurance payable is double the faceamount.
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 onthe insured.
Double indemnity is a clause in life insurance policies that provides for the payment of double thepolicy's face value in the event of the policyholder's accidental death.
indemnity
Examples of 'double indemnity' in a sentence
double indemnity
The big policy, the million-dollar policy, has a double indemnity clause in it, so that makesit worth, well, two million.