Insurance policy

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Related to Insurance policies: Health Insurance Policies, Life Insurance Policies

Insurance policy

A contract detailing an insurance policy and outlining what risks are insured, what insurance premiums are to be paid by the policyholder, what deductibles prevail, and all the details associated with a policy.

Insurance Policy

The contents of an insurance contract. The policy describes the specific types of coverage (life, health, etc.), the restrictions that apply, and the applicable deductibles and premiums. Only the insurer makes legally enforceable promises in an insurance policy: the insurance company cannot legally compel the insured person to pay his/her premiums, but the insured person can sue to compel the insurer to provide coverage if it does not do so. All insurance policies, however, include a provision allowing the insurer to refuse coverage if the insured person does not pay the premiums.
References in periodicals archive ?
Life settlement providers will purchase $10 billion to $15 billion of insurance policies in 2005.
General liability insurance policies have limits stated for each occurrence and general aggregate.
Employers can usually buy workers comp insurance policies from two different sources--from a private insurance company or directly from the state they do business in.
Life insurance policies that are term life are a little easier to handle in these tough economic times.
Having been in and out of consideration for some 25 years, the Disclosure For Small Face Amount Life Insurance Policies Model Act saw action June 12 when it was unanimously approved by the Life Insurance and Annuities Committee at the National Association of Insurance Commissioners' Summer National Meeting in Boston.
Recognizing the death of a key employee of certainly the business owner could mean the end of the business itself, most small businesses own life insurance policies on these individuals.
Non-traditional insurance solutions include claims-made liability insurance policies, risk purchasing group programs, captive and rent-a-captive insurance arrangements, and excess and surplus lines insurance placements.
Don't keep your life insurance policies in your safe deposit box, because in most states, boxes are sealed temporarily upon the death of the owner.
In Texas, such insurance policies are protected from creditors.
Under HIPAA, qualified long-term care insurance policies, in exchange for tax advantages, must contain certain consumer protection provisions.
In providing an efficient, centralized point for the processing of insurance policies, DTCC Insurance Services is helping insurance carriers expand their product sales potential in new market channels through the broad network of distributors utilizing its platform.
The long-term 'AAA' rating assigned to the series 2005C-2, 2005C-3, and 2005C-5 bonds is based on the support of three separate insurance policies provided by Financial Guaranty Insurance Company (FGIC), which insure scheduled payments of principal of and interest on the FGIC insured bonds, effective as of the date of issuance of the bonds.

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