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 ?
Additional Insured status on liability insurance policies is not automatic.
If your mobility device or automobile modification is not included in your homeowners' and auto insurance policies, ask your carrier to modify your policies to provide the needed coverage.
Because although Christi's employer, contractor Michael Bennett, was required by state law to carry workers comp insurance policies for his employees, he had neglected to purchase any insurance policies.
Following decades of intermittent debate, state regulators finally advanced an effort to establish greater disclosures to consumers of small-face-amount life insurance policies.
CPAs can help small business clients do an annual review of all insurance policies they have in place.
Under these circumstances, remember that not all insurance policies are alike.
In the ruling, the H1 trustees and the HW1 trustees would sell the life insurance policies held in each trust to the H2 trustees and HW2 trustees, respectively.
The Bufords, for example, each bought permanent life insurance policies.
Notice 97-31 contains language, for instance, that might cause private long-term care insurance policies - sold before HIPAA's implementation date and "grandfathered" under HIPAA as tax-qualified - to lose their tax-qualified status.

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