The term double indemnity refers to a clause that is commonly included in accident and life insurance policies. Double indemnity is a type of life insurance that requires the insurance company to pay out up to double the value of the policy under the circumstances that the policyholder's death is due to accidental causes.. Double indemnity is a clause in life insurance policies that provides a payout of twice the policy's value if the insured person dies from an accident.
Double indemnity is a contract provision that is typically found in life insurance and accidental death insurance policies. This is a type of life insurance that mandates that carriers pay up to twice the amount of the face value of an insurance contract if the insured (or policyholder) dies as a result of an accident.. Insurance carriers evaluate double indemnity claims on a case by case basis, and even if a death is accidental, the insurance carrier may have various exceptions for the double indemnity clause. For example, a homicide will generally qualify as accidental death under most insurance policies.