Insurance

What is a Policy?

Policy

[pol-uh-see]

noun

1.

A Policy is the contract between the insurer and the insured (the policyholder), detailing the rights and responsibilities of both parties. The Policy outlines pertinent information about covered Risks, Premiums, Deductibles involved, as well as other relevant details.

Have A Question About This Topic?

Thank you! Oops!

Related Content

Life Insurance for Young Adults

Life Insurance for Young Adults

Getting life insurance before 40 is more common than you think—and it can be a smart choice for many people.

Keeping Good Records is Good Business

Keeping Good Records is Good Business

Maintaining good records for your business not only helps to meet your tax and legal obligations, but it can save you money.

The Other Sure Thing

The Other Sure Thing

A new LIMRA study shows that 40% of Americans believe the death of a primary wage earner would cause financial challenges.