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

Avoiding Cognitive Decline

Avoiding Cognitive Decline

Try these activities to keep your brain sharp.

6 Tips to Help You Prepare for Natural Disasters

6 Tips to Help You Prepare for Natural Disasters

Disaster can strike at any time. These six tips can ensure you’re prepared when it does.

Your Emergency Fund: How Much Is Enough?

Your Emergency Fund: How Much Is Enough?

Having an emergency fund may help alleviate the stress and worry associated with a financial crisis.