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

The Half Million Dollar Baby

The Half Million Dollar Baby

The true cost of raising a child may be far more than you expect.

What to Look for in Personal Finance Apps

What to Look for in Personal Finance Apps

An increasing number have been developed to help individuals with their personal finances.

A House Divided

A House Divided

By understanding a few key concepts during a divorce, you may be able to avoid common pitfalls.