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 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
policyholder has both term life insurance and mortgage protection life insurance
The correct description of double indemnity is: "A life insurance rider that may result in beneficiaries receiving double the insured amount in case of death or severe injury."
To get this answer, you can do the following:
1. Start by understanding that Double Indemnity is a life insurance term.
2. Search for the definition of Double Indemnity.
3. Look for reliable sources, such as insurance company websites or insurance industry articles.
4. Read through the information and identify the description that matches the concept of Double Indemnity.
5. Compare the options given and select the one that accurately describes Double Indemnity.
6. Verify the answer for accuracy and provide it as the response.