An indemnity insurance policy is the kind that will pay a specified dollar amount should a named event occur.

A health insurance indemnity plan will usually pay a fixed dollar amount for each day you are in a hospital for example. Usually it will pay a higher amount if you are in a confined to an
Intensive Care Unit.

A hospital indemnity plan should not be considered as real protection if you are hospitalized because the benefit payment (usually around $200 per day) will come nowhere near the actual charges.

A more useful type of health indemnity plan would be one that would pay a large amount if you happen to be diagnosed with a catastrophic illness, such as cancer.

Double indemnity is the term used where a higher payment is paid on a life insurance policy if death occurs from an accident.
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Watch: An Introduction to the Basics of Medicare
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