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English definition of “insurance policy”

insurance policy

noun [C]    
INSURANCE a document stating the agreement between an insurance company and a person or company that has arranged insurance with it: take out/apply for/have an insurance policy To make sure that your employer can pay the compensation, they must take out an insurance policy. a travel/accident insurance policy a household/life insurance policy
(Definition of insurance policy noun from the Cambridge Business English Dictionary © Cambridge University Press)
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