INSURANCE POLICY

What is an Insurance Policy?

A Insurance Policy (Lie Insurance Policy) is a printed form, which serves between an insurer and insured as the contract.

Insurance Life Policy is a document, which specifies the contract between an insurance company and insurer called Life Insurance Policy.

More about Insurance Policy

The Insurance Company, sell Insurance Policies known as Insurer and Policies buyers known as Insured. Normally, there are two types of Insurance 1 is General Insurance and the other is Life Insurance. An Insurance Policy is a Written Document. It contains the requirements, the insurance schedule, ability factors, benefits, guidelines that are applicable to the policy holder under the plan.

Insurance Policy - Important

Insurance Policy is a very important document. It is a proof of an Insurance that an insured had bought. Among the details of policy, Insured person’s (Policy Buyer’s) detail given by him or her must be true. If any, of these, detail will proved or known wrong, the insurance Company can cancel his or her Insurance Policy.

For example : A Person is buying a Life Insurance. He is suffering from high blood pressure. While buying a Life Insurance, he said that he is healthy and he has no illness. Insurance Company agrees and signed the contract. But after some time or at the time of Compensating an Insurance Company knows that the Life Insurance Policy Holder was failed give true information, then Insurance Company can cancel this Policy.

At the time of Compensating Policy holder, have to saw his Policy. If he lost it, Insurance Company will not give him reward, because it is a proof of an Insurance cover. It is obvious that, if you do not have any Insurance then you will be alone while facing the expenses. The insurer analyzed this type of financial risks and this is the base of the Contract. This all verified by making use of details and all the data and information that you have provided in Policy for the Insurance.


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