GK
INSURANCE AWARENESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In Insurance, The insured receives a contract, called the____
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Insurance policy
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Insurance MOU
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Insurance agreement
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None of these
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Explanation:
Detailed explanation-1: -1) An insurance policy is a contract between the insurer and the insured. 2) The insured is the person whose life is being covered against the risk under the policy. 3) The insurer is the insurance company that provides the insurance cover.
Detailed explanation-2: -An insurance policy – also called a contract of adhesion (yeah, like glue) because you agree to stick to the contract terms and conditions – is an agreement between you and your insurer outlining the coverage they’ll provide you, others in the policy, your stuff, and your place.
There is 1 question to complete.