Bud Baxter is a minor clerk in a huge New York insurance company, until he discovers a quick way to climb the corporate ladder. He lends out his apartment to the executives as a place to take their mistresses. Although he often has to deal with the aftermath of their visits, one night he's left with a major problem to solve.

A rich woman and a calculating insurance agent plot to kill her unsuspecting husband after he signs a double indemnity policy. Against a backdrop of distinctly Californian settings, the partners in crime plan the perfect murder to collect the insurance, which pays double if the death is accidental.