Business Studies

State the following statement is True or False:
Policy is the document which contains the terms and conditions of contract.


ANSWER

True


SOLUTION
Contract of insurance is represented by the Policy document. A policy document includes details of premium, policy limit, and other particulars of the policy. In other words, a policy issued by the insurance company contains details of the terms and conditions of the contract.
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TRUE/FALSE Medium Published on 18th 08, 2020
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