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

The Half Million Dollar Baby

The Half Million Dollar Baby

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

Side-by-Side: Insured vs. Uninsured

Side-by-Side: Insured vs. Uninsured

Here's what happens if your small business has an accident and you're not insured.

Protecting Those Who Matter Most

Protecting Those Who Matter Most

The importance of life insurance, how it works, and how much coverage you need.