Is Life Insurance An Indemnity Policy? 
When someone is indemnified they are said to have been made whole . When a car is involved in an accident the insurance company returns the car to its pre-accident state and thus indemnifies the car owner . It is impractical to evaluate a human life . The life insurance policy is a binding legal agreement between the insurance company and the owner of the policy to pay a specified amount upon the death of the insured , regardless of their value at the time of death . 