Of the following, which are considered to be basic parts (standard sections) of an insurance policy:...

Of the following, which are considered to be basic parts (standard sections) of an insurance policy:

a. definitions

b. conditions

c. limitations

d. exclusions

e. summary

		a & b
		a, b, d
		a, d, e
		a, b, c & d

Solutions

Expert Solution

a,b,d

An Insurance Policy contract contains the definitions, conditions and exclusions in order to clarify the principal terms pertaining to such a contract or specifying the provisions, rules and duties corresponding to the Policy contract and excluding certain coverage from the Policy plan as well. Hence, options a, b and d are correct. Limitations and summary are not part of the contract’s basic parts hence eliminated.

keosha answered 1 year ago

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