Insurance policy

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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 ?
Policyholders, not the insurer, decide where to direct investments within a tax-protected life insurance policy.
Once a family chooses us, they also are choosing to accept our policies, including the make-up policy.
American lobbies are, more importantly, significantly superior to voter behavior and opinion polls in their impact on foreign policy decision-making.
Looking at the current monetary policy situation in Japan in the light of this thinking, one cannot help but feel frightened by the fact that the exit from the monetary policy measures necessitated by the darkest economic situation in the past years cannot yet be found, and no margin of maneuver is left for policy action in case of an unforeseen crisis.
Such consent is persuasive, "further vindicat[ing] the public policy designed to prevent wagering contracts on which the insurable interest rule is grounded" (Dou, Chem.
On retirement of a key employee, the company may offer to transfer ownership of the key-person policy to the retiree.
A life settlement turns insurance assets into cash, giving the original policyholder an amount greater than the cash surrender value in exchange for ownership of the policy.
An example of this type of policy involves recently sick individuals who apply for small face amounts of coverage and who are willing to answer application questions incompletely.
1967--Release of Record of Policy Actions after Ninety Days
My queer analysis of social welfare involves examining how sexuality and gender can be rethought and reorganized in economic and social policy frameworks, theories and practices.
Your organization may already have a communication policy, albeit unstated, as seen in your overall behavior and attitude toward your constituencies.
The proposed policy was drawn up by a 15-member committee consisting of staff, community members, parents and students.

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