Certain personal accident policies pay twice their normal benefits if the injury or death has been caused under specified circumstances, usually meaning injury following an accident involving a road or rail conveyance.
Tag: UK
Double benefits
See: Double Indemnity.
Double endowment
Endowment insurance whereby the amount payable on maturity is twice the amount payable on death within the policy term. It combines an endowment insurance with a pure endowment for the same sum or is structured as a term insurance for a particular sum linked to a pure endowment for double that sum. It can be offered to impaired lives as an alternative to extra premiums.
Double option agreement
See: Cross Option Agreement.