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Parts of an Insurance Policy

Application

Declaration Page

Policy Jacket

Endorsements

Application

The information needed to create the insured’s policy is supplied by the agent on the New Business Application. The information on the application represents the insured and any pertinent facts needed to underwrite and issue the policy.

Endorsements

Endorsements change the policy by... Adding coverages Deleting Coverages Expanding Coverages Limiting or Restricting Coverages

Policy Jacket

The policy jacket is where all the legal language is spelled out. The jacket is the same for everyone.

Declaration Page

The declaration page includes the information found on the application, plus what the policy number is, when the policy is effective and expires, the name of the insured, what is being covered, and for how much, etc. The Declaration Page personalizes the policy.