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

10 Most Common and Costly Small Business Claims

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

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.

What is a Carrier?

Do you know what a Carrier is?