Describe double indemnity?(1 point) Responses the policyholder is paying a fixed premium for coverage on a loan that has a decreasing payout the policyholder is paying a fixed premium for coverage on a loan that has a decreasing payout the policyholder buys gap insurance and is paid out from the base auto insurance and the gap insurance for totaling their car the policyholder buys gap insurance and is paid out from the base auto insurance and the gap insurance for totaling their car a life insurance rider that may result in beneficiaries receiving double the insured amount in case of death or severe injury a life insurance rider that may result in beneficiaries receiving double the insured amount in case of death or severe injury policyholder has both term life insurance and mortgage protection life insurance
Double indemnity refers to a life insurance policy provision or rider that may result in beneficiaries receiving double the insured amount in case of the insured's death or severe injury. This provision provides additional financial protection for the beneficiaries in the event of certain specified incidents.
