What does Double/Triple Indemnity provide in the case of accidental death?

Double or triple indemnity refers to a specific provision in life insurance policies that increases the benefit amount if the insured's death is a result of an accident. This means that if the insured dies due to an accident, the life insurance payout is either doubled or tripled, depending on the terms of the policy. This provision is designed to provide additional financial support to beneficiaries in the event of an unexpected accidental death, acknowledging the increased risk associated with such an event.

This is particularly appealing to policyholders who may be concerned about the potential financial impact of an accidental death on their loved ones. The other options do not accurately describe the essence of double or triple indemnity, as they pertain to different aspects of insurance benefits, such as interest rates, fixed payout amounts, or coverage for expenses, rather than specifically addressing the increase in payout due to accidental death.