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

Understanding Extended Care

Understanding Extended Care

Understanding the types of extended care services—and what those services could cost—may be critical.

The Facts About Income Tax

The Facts About Income Tax

Millions faithfully file their 1040 forms each April. But some things about federal income taxes may surprise you.

Spotting Credit Trouble

Spotting Credit Trouble

The wise use of credit is a critical skill. These 10 questions will help you assess your skill level.