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

Acres of Diamonds

Acres of Diamonds

In life it often happens that the answers to our most pressing questions are right in our own backyards.

Annuity Comparison

Annuity Comparison

This calculator compares a hypothetical fixed annuity with an account where the interest is taxed each year.

Did You Know This Fact About Flood Damage?

Did You Know This Fact About Flood Damage?

Prevent major flood damage with this tip.