Homesaver Direct Insurance Glossary - P
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Policy
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The document describing the exact contract between the
insurance company
and the document holder.
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Policyholder
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The individual who is named on the policy certificate. This is the
individual who must pay the premiums, but reaps the benefits should a
claim be made.
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Premium
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The payment made either monthly or yearly to the insurance company in
return for being provided with insurance cover. The price of insurance
effectively.
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Proposal Form
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The application form send off by the prospective policyholder to enquire
about acquiring an insurance policy.
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Proposer
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The person or company who submits the Proposal Form.
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