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

How Does an Umbrella Insurance Policy Work?

How Does an Umbrella Insurance Policy Work?

If you have a lot to lose, an Umbrella policy could be exactly what you need.

Who Does Survivorship Life Insurance Benefit?

Who Does Survivorship Life Insurance Benefit?

Later in life, the pros and cons of different life insurance policies are important considerations for married couples. It's vital to choose a life insurance policy that suits your unique circumstances.

If You're In An Accident

If You're In An Accident

Learn the best steps to take after you’ve been in an automobile accident with this useful, step-by-step video.