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

Variable Universal Life Insurance

Variable Universal Life Insurance

Variable Universal Life is permanent insurance in which the policyholder directs how premiums are invested.

Real Talk About Insuring Your Kid’s First Car

Real Talk About Insuring Your Kid’s First Car

Learn real-life realities and strategies for insuring your kid’s first car without breaking the bank.

Should I Buy or Lease an Auto?

Should I Buy or Lease an Auto?

This calculator compares the financial impact of leasing versus buying an automobile.