What is an insurance policy

Not every single individual is well acquainted with the terms and conditions of an insurance policy. The concept of insurance and its policies is still vague to almost every human being. Whatsoever, the term insurance policy generally resembles the conditions implied under certain circumstances. In more precise terms,the written or printed document prepared by the insurer for the insured which confirms that the insurance has been done , which covers the certain damages, losses or any kinds of destruction made on the Insurance policy. Before the issuance of the insurance policy the insured must fill up the proposal forms on which the insurance policy is to be made.