A Base Policy refers to the primary insurance contract that provides the essential coverage benefits to the policyholder. It outlines the core terms, conditions, coverage limits, and the framework for the insurance protection offered.
A Base Policy refers to the primary insurance contract that provides the essential coverage benefits to the policyholder. It outlines the core terms, conditions, coverage limits, and the framework for the insurance protection offered.
This policy stands as the foundational agreement between the insurer and the insured, detailing what risks are covered, the premium amount, the policy term, and the obligations of both parties. The base policy is typically what is first established when purchasing insurance, before any additional riders or amendments are added.
Understanding the base policy is crucial for policyholders, as it defines the scope of protection they are purchasing.
A Base Policy refers to the primary insurance contract that provides the essential coverage benefits to the policyholder. It outlines the core terms, conditions, coverage limits, and the framework for the insurance protection offered.
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