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Question: The document which embodies the contract in insurance is called____________

Options:

  1.  Security
  2.  Policy
  3.  Certificate
  4.  None of these

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2. Policy

The document which embodies the contract in insurance is called Policy.


More:

In insurance, an insurance policy is a contract (usually a standard form contract) between the insurer and the policyholder.

It determines the claims the insurer is required to pay legally.

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