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

Immediate vs. Deferred Annuities

Immediate vs. Deferred Annuities

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

Please Leave Home Without It

Please Leave Home Without It

Concerns over identity theft continue to grow, especially with data breaches at major companies and financial institutions.

The Value of Insuring Against Life’s Risks

The Value of Insuring Against Life’s Risks

Building wealth requires protection from the forces of wealth destruction.