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.

Origin of double indemnity

An Americanism dating back to 1920–25

British Dictionary definitions for double indemnity

double indemnity

noun

US and Canadian (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

Cultural definitions for double indemnity

double indemnity

A feature of life insurance policies stating that the insurer will pay twice the face value of the policy if the insured dies accidentally.