Double indemnity Meaning and Definition
Double Indemnity
Pronunciation
/dʌbəl ɪnˈdɛmnɪti/
Part of Speech
Noun
Definition
A clause in an insurance policy that doubles the payout in the event of accidental death.
Examples
- The life insurance policy included a double indemnity clause in case of accidental death.
- The company offered double indemnity to its employees as a benefit.
Synonyms
- Double benefit
- Accidental death benefit
Antonyms
- Single indemnity
- Standard benefit
Additional Information
Double indemnity is a common clause in life insurance policies that provides an additional payout in the event of accidental death. This can provide financial security for the policyholder’s beneficiaries in the event of an unexpected death. Double indemnity is often used as a plot device in fiction, particularly in film noir and crime dramas, where characters may scheme to benefit from the payout.
In addition to life insurance, double indemnity can also be applied to other types of insurance policies, such as accident insurance or travel insurance. The specific terms and conditions of double indemnity clauses can vary widely depending on the insurance provider and the type of policy.
The term “double indemnity” originated in the mid-19th century, when life insurance companies began offering policies with double payouts in the event of accidental death. The term is derived from the Latin words “indemnitas,” meaning “compensation” or “reparation,” and ” duplex,” meaning “double.”
Usage Notes
Double indemnity is often used in formal or technical contexts, such as insurance policies or legal documents. In informal contexts, it may be used more broadly to refer to any situation in which an individual benefits from an unexpected event.
Cultural References
The 1944 film “Double Indemnity,” directed by Billy Wilder and starring Fred MacMurray and Barbara Stanwyck, is a classic example of the use of double indemnity as a plot device. The film’s success helped to popularize the term and cement its place in popular culture.
Idiomatic Expressions or Phrases
- “Double indemnity clause” – a clause in an insurance policy that doubles the payout in the event of accidental death.
- “Double indemnity payout” – the payment made to beneficiaries in the event of accidental death.
Related Words or Phrases
- Accidental death benefit
- Life insurance policy
- Beneficiary
Collocations
- Double indemnity clause
- Double indemnity payout
- Life insurance policy with double indemnity
Frequency of Use
Common Misspellings
- Dual indemnity
- Double indemnty
- Insurance indeminity