What is the Definition of Policy?

What is the Definition of Policy?

A written contract for insurance between an insurance company and a policyholder stating details of coverage.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Policy?

You can find random definition and meaning of insurance terms below:


What is the meaning of Binder

A temporary agreement declaring that the policy is in effect. Used in certain cases to protect a policyholder when it is not possible to issue or endorse the policy immediately.


What is the meaning of Bodily Injury

An injury sustained by a person.


What is the meaning of Bodily Injury Liability Coverage

Pays damages for bodily injury or death resulting from an accident for which you are at fault and in most cases provides you with a legal defense. This coverage is subject to the terms, limits and conditions of your policy contract.


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