policy summary

Definition

A summary of the terms of a life insurance policy, including the conditions, coverage limitations, and premiums. Depending on the laws in the particular location, the policy summary may be required to be issued to potential policyholders with every transaction. The policy summary also includes information on the cost of the policy, such as the premium amounts, and information on the benefit, including the amount to be paid upon death.

Related Videos




http://www.businessdictionary.com/definition/policy-summary.html

Have a question about policy summary? Ask for help in the
Community
advertise here

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z