Definition of Insurance policy:
A document detailing the terms and conditions of a contract of insurance.
Formal contract-document issued by an insurance company to an insured. It (1) puts an indemnity cover into effect, (2) serves as a legal evidence of the insurance agreement, (3) sets out the exact terms on which the indemnity cover has been provided, and (4) states associated information such as the (a) specific risks and perils covered, (b) duration of coverage, (c) amount of premium, (d) mode of premium payment, and (e) deductibles, if any.
Synonyms of Insurance policy
Accident insurance, Actuary, Annuity, Arrangement, Assurance, Aviation insurance, Bail bond, Bond, Business life insurance, Casualty insurance, Certificate of insurance, Contract by deed, Contract of record, Contract quasi, Court bond, Covenant of indemnity, Credit insurance, Credit life insurance, Debenture, Debenture bond, Deductible, Deed, Deed of trust, Deed poll, Endowment insurance, Family maintenance policy, Fidelity bond, Fidelity insurance, Flood insurance, Formal contract, Fraternal insurance, Government insurance, Group policy, Health insurance, Implied contract, Indent, Indenture, Industrial life insurance, Insurance, Insurance agent, Insurance broker, Insurance company, Insurance man, Interinsurance, Liability insurance, License bond, Limited payment insurance, Major medical insurance, Malpractice insurance, Marine insurance, Mortgage deed, Mutual company, Ocean marine insurance, Parol contract, Permit bond, Policy, Promissory note, Recognizance, Robbery insurance, Social security, Special contract, Specialty, Specialty contract, Stock company, Term insurance, Theft insurance, Title deed, Underwriter
How to use Insurance policy in a sentence?
- Any time you will be taking on a risky venture it is important to take out an insurance policy and protect yourself.
- It may well be that it will depend upon what the terms of the insurance policy are.
- I was looking at my insurance policy and wondered exactly what it all meant, because there was some confusing things on it.
- If you have your license and buy a car, it is required by law to have an insurance policy in case you experience certain problems with the vehicle such as an accident or theft.
Meaning of Insurance policy & Insurance policy Definition