noun
1.
A Policy is the contract between the insurer and the insured (the policyholder), detailing the rights and responsibilities of both parties. The Policy outlines pertinent information about covered Risks, Premiums, Deductibles involved, as well as other relevant details.
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A life insurance policy can supplement your retirement financial strategy by being a source of emergency cash or loan funds, or by simply providing the confidence that comes from knowing you've covered all the bases.