Which of the statement best defines what a policy title means on an insurance policy?

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29-08-2022
Business

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Which of the statement best defines what a policy title means on an insurance policy?

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OlanmaE OlanmaE · Answer 1 · 2022-09-08T16:53:15+02:00

The statement that best defines what a policy title means on an insurance policy is this:

Every policy must have a title on the face and on the back of the policy, briefly describing the policy.

What is an insurance policy?

An insurance policy is an investment that is made to safeguard a person's property against loss. Every insurance policy must have a policy title.

The policy title refers to a form of indemnity insurance that is geared at protecting people who buy houses or borrow money. The policy title is meant to be spelled out clearly at the front and back so that stakeholders will be clear on the terms.