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?

Related Content

How Pre-Existing Conditions Affect Life Insurance

Have a pre-existing condition? Learn the facts before assuming life insurance coverage is costly or low quality.

10 Most Common and Costly Small Business Claims

Here are the 10 most common claims against small businesses. Are you covered?

How Stocks Work

Understanding how a stock works is key to understanding your investments.