Insurance policy

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Related to Insurance policy: Life insurance policy, Health Insurance Policy

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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
Paid up insurance is where the unpaid insurance policy will be considered as fully paid but the policy will have a corresponding reduced amount.
For Next Insurance's new commercial auto insurance policy, business owners can: choose the level of protection they want according to budget and desired level of risk; select from several limits and choose whether to include protection for their own vehicle (when used for business purposes) on top of the liability auto coverage required by law.
The UAE's oldest drivers are also among the country's most frugal when it comes to spending on car insurance; 18.1 per cent of those over 50 years opt for the cheapest car insurance policy, compared to just 14.5 per cent of those aged between 30 and 39.
Generally, when a life insurance policy is sold to an investor (a transaction often referred to as a "life settlement"), the policy owner will be required to recognize ordinary income to the extent of his or her "gain" on the contract.
On the launch of the Group Critical Illness Insurance Policy, Mr.
Consumers who anticipate that their families will face major financial hurdles after they are gone, such as the expense of caring for a developmentally disabled adult, may want to turn to a whole life insurance policy in order to ensure that those beneficiaries are adequately covered.
Naming DAV as beneficiary of your insurance policy or financial accounts is as easy as changing your beneficiary designation forms with your insurance company or financial institution by providing them with DAV's legal name, address and tax ID number.
At the first hearing before the Qatar Court of First Instance, the defendant pleaded that the case should be dismissed and referred to arbitration, because the insurance policy contained an arbitration clause.
James Dalton, director of general insurance policy at the ABI, said: "Whether you are a home owner, driver, own a pet or buy medical insurance, millions of people across the country face being hit in the pocket by this rise in Insurance Premium Tax.
In the first half of this year, the insurance policy sale income increased by almost 8.5 percent relative to the same period of last year, according to the statistics of Macedonia's Insurance Supervision Agency.
Insurance companies' clients are entitled to have a portion of their insurance policy value returned back to them, should they decide to sell their cars, local media reported.
Naples, FL, February 13, 2015 --( Gulf Coast Educators Insurance is now offering free insurance policy reviews to kick off the new year.

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