Policy summary is what describes the specific information about a policy.
Policy is a term, commonly associated with insurance . It is a set of rules or guidelines for an organization and employees to follow in or to achieve a specific goal (i.e. compliance).
A policy summary describes the features and elements of the specific policy for which a person is applying.
Policy summary contains the following :
- Name and address of the producer
- Name of the policy issued
- Premium
- Surrender value
Therefore, Policy summary is what describes the specific information about a policy.
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