Common disaster

{
  "id": "MLC-T-INS-000845",
  "term": "Common disaster",
  "field": "Insurance and risk management",
  "definition": "An event that causes the simultaneous or near-simultaneous death of two or more individuals, particularly relevant in life insurance and estate planning. This concept addresses situations where it is difficult to determine the order of deaths, which can impact the distribution of policy proceeds or inheritances. Many life insurance policies include provisions, such as a common disaster clause, to clarify beneficiary payouts in such scenarios.",
  "url": "https://mlchart.com/terminology/insurance/common-disaster/"
}