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

What is a Business Owner's Policy?

What is a Business Owner's Policy?

As a business owner, a BOP may be a convenient way to meet your unique protection needs.

Did You Know This Fact About Parking in a Garage?

Did You Know This Fact About Parking in a Garage?

Save money by parking your car in your garage.

How Much Life Insurance Do I Need?

How Much Life Insurance Do I Need?

Your family's needs and assets are critical considerations when determining how much life insurance to invest in. Use this four-step process to help you calculate how much life insurance you need.