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English definition of “double indemnity”

double indemnity

noun [U]
 
 
(also accidental death benefit) INSURANCE
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.
(Definition of double indemnity from the Cambridge Business English Dictionary © Cambridge University Press)
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