Meaning of “double indemnity” in the English Dictionary


"double indemnity" in Business English

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double indemnitynoun [ U ]

uk us 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)