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 My Life Expectancy?

What Is My Life Expectancy?

Estimate how many years you may need retirement assets or how long to provide income to a surviving spouse or children.

4 Things Trip Insurance Does (and Doesn't) Cover

4 Things Trip Insurance Does (and Doesn't) Cover

Planning a trip but unsure if travel insurance is a good idea? Check out these 4 key things to know what travel policies cover - and what they don’t.

Immediate vs. Deferred Annuities

Immediate vs. Deferred Annuities

Looking forward to retirement? It's critical to understand the difference between immediate and deferred annuities.