Bharti AXA INSURANCE GLOSSARY Double Indemnity Double Indemnity In insurance contracts, a double indemnity is a clause through which the insurer agrees to pay a multiple (double, three times, etc.) of the sum assured or the face value of the contract under certain conditions. For example, a life insurance policymay promise to pay double the sum assured in case of an accidental death of the policy holder. This would exclude death by natural causes, murder, suicide or by the person’s own gross negligence. Another condition requirement typically associated with a double indemnity cover is that the death must occur within 90 days from the date of the accident. Given the progress made in the healthcare sector have prolonged the lives of patients, some insurers now offer a longer window of six months. Most insurers also have an age limit after which the double indemnity benefit does not apply. This varies from policy to policy and could be anywhere between 60 and 70 years of age. Request Call Back Category * - Select -CarTwo WheelerHealthTravelPersonal Accident Buy Renew Claim submit Related Posts Disclaimer : The information published on this website is for the public's reference only. Content of this information is to provide an overview of your Travel needs and should not be relied upon for personal, medical, legal or financial decisions and you should consult an appropriate professional for specific advice. Bharti AXA General Insurance Company Limited makes no representations about the suitability, reliability, timeliness, and accuracy of the information, travel, services, or any other items mentioned on this subject for any purpose whatsoever.