Policy Summary
Updated: 29 February 2024
What Does Policy Summary Mean?
A policy summary is an abbreviated overview of the key aspects of a life insurance policy. This can include the premium amounts, coverage limitations, conditions, and other details.
Insuranceopedia Explains Policy Summary
Policy summaries are commonly provided with every single life insurance transaction. This way, there is never any doubt on the part of the policyholder about the details of their policy. This can save insurance companies a lot of time and money in customer service.
Policy summaries are typically much shorter than the actual life insurance policy package. Life insurance policy packages can be dozens of pages long, while policy summaries are a fraction of this length.
Related Definitions
Related Terms
Related Articles
The Key Elements of an Insurance Contract
Who Is a Named Insured?
Insurance Self-Service Portal: The Future of Customer Experience
Blockchain’s Impact on Transforming the Insurance Landscape
What Every College Student Should Know About Renters Insurance
Guidance for Nurses: Five Essential HIPAA Compliance Tips
Related Reading
What Is Temporary Life Insurance?
Revealing the Most And Least Popular U.S. Insurance Companies
Texas is the state with most people killed by animals in the US
Life Insurance Statistics
How Long Do You Have To Have Life Insurance Before You Die?
Life Insurance Statistics