What is the Definition of Valued Policy?

What is the Definition of Valued Policy?

A policy under which the insurer pays a specified amount of money to or on behalf of the insured upon the occurrence of a defined loss. The money amount is not related to the extent of the loss. Life insurance policies are an example.

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 Valued Policy?

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


What is the meaning of Independent Adjuster

freelance contractor paid a fee for adjusting losses on behalf of companies.


What is the meaning of Independent Agent

a representative of multiple insurance companies who sells and services policies for records which they own and operate under the American Agency System.


What is the meaning of Independent Contractor

an individual who is not employed for a company but instead works for themselves providing goods or services to clients for a fee.


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