Insuring Agreement, Property And Casualty Policy
Definition of "Insuring agreement, property and casualty policy"
Section of a policy specifying: parties to the contract (the insurance company and the person or business to be insured); terms of the policy when it goes into force, and when it ends; premiums and their due date; limits of insurance; types and location of property to be insured; consideration; perils (what the policy protects against); and assignment (and under what conditions the policy can be assigned).
Popular Insurance Terms
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Information needed for underwriting a life insurance policy, such as an applicant's age, weight, height, and build; personal and family health record; occupation; and personal habits. These ...
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Section of the code that qualifies that the death benefit paid under a life insurance policy is received by the beneficiary income-tax free. These tax consequences apply regardless of the ...
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