Insurance Policy Definition Quizlet. Guaranteed cash value life insurance policies are cash accounts that gradually build over time as part of a permanent life insurance policy. An insurance contract is written on the principle of utmost good faith, meaning each party must trust that the other is being completely truthful.
Doctors and hospitals always provide better care to people who have health insurance. Fiscal policy, measures employed by governments to stabilize the economy, specifically by manipulating the levels and allocations of taxes and government expenditures. To understand a convertible policy, you must first understand term and universal policies.
The most common standardized policy is the personal auto policy (pap), developed by the insurance services office, for insuring personal vehicles, although some insurers, such as state farm and allstate use their own forms.
If the insured individual dies, the death benefit is paid out to the designated beneficiaries. Examples are leases of premises, elevator maintenance agreements, easement agreements, and other agreements related to the insured's business. Your dp3 policy can be endorsed to cover: The insurance premium is the amount of money paid to the insurance company for the insurance policy you are purchasing.