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

Comparing Mortgage Terms

Comparing Mortgage Terms

Estimate the total cost in today's dollars of various mortgage alternatives.

Buying Auto Insurance For Teen Drivers

Buying Auto Insurance For Teen Drivers

Tips on insuring your teen driver.

How Compound Interest Works

How Compound Interest Works

Use this calculator to better see the potential impact of compound interest on an asset.