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

Choosing Between Term and Whole Life Insurance

Choosing Between Term and Whole Life Insurance

Confused about Term or Whole Life Insurance? Discover how they work and, most importantly, how they can work for you.

Breaking Down the Parts of Medicare

Breaking Down the Parts of Medicare

Medicare is broken down into four specific parts—but what do they mean? This article will help you understand each piece.

How to File a Wildfire Claim

How to File a Wildfire Claim

Here’s what you need to know when filing a wildfire insurance claim.