Definition, Meaning & Synonyms

double-indemnity

Noun

/ˈdʌb.əl ɪnˈdɛm.nɪ.ti/

Definition

A clause in an insurance policy that provides for double the payment of benefits in the event of certain types of loss or death.

Examples

His life insurance policy included a double-indemnity clause for accidents.
After the tragic incident, her family received double-indemnity, helping them cope with the financial burden.

Meaning

The term refers to an arrangement where the insured receives twice the amount of coverage specified in the policy under particular conditions, usually in cases of accidental death.