It is evidence of the insurance contract
It is evidence of the interest expressed by the insured in buying an insurance policy from Co
It is evidence of the policy (procedures) followed by an insurance company when dealing with channel partners like banks, brokers and other entities
It is an acknowledgement slip issued by the insurance company on payment of the first premium
✅ The correct answer is A.
Policy document is a detailed document and it is the Evidence of the insurance contract which mentions all the terms and conditions of the insurance. The insured buys not the policy contract, but the right to the sum of money and its future delivery.
Policy document is a detailed document and it is the Evidence of the insurance contract which mentions all the terms and conditions of the insurance. The insured buys not the policy contract, but the right to the sum of money and its future delivery.