A lump sum payment under a policy upon the insured person’s accidental death, dismemberment, or loss of sight.
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MEDICAL,USA: Dollar amount paid in a lump sum by an insurance company for an accidental death or accidental dismemberment of the insured.
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The amount specified on a Policy to be paid in the event of certain losses, such as a designated amount of money to be paid in case of a loss of limb/s.