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LSDefine

Simple English definitions for legal terms

face of policy

Read a random definition: tacit contract

A quick definition of face of policy:

Face of policy: The term "face of policy" refers to the amount of money that an insurance policy will pay out in the event of a claim. It is also known as the face amount or face value. The face of policy is the maximum amount that the policyholder can receive, regardless of the actual cost of the loss or damage. For example, if a policy has a face value of $100,000, the insurance company will pay out up to $100,000 for any covered claim.

A more thorough explanation:

Definition: The term "face of policy" refers to the amount of money that an insurance policy will pay out in the event of a claim. It is also known as the "face amount" or "face value" of the policy.

Examples:

  • John purchased a life insurance policy with a face value of $500,000. This means that if he were to pass away, his beneficiaries would receive a payout of $500,000.
  • Mary's car was damaged in an accident, and she filed a claim with her auto insurance company. The face value of her policy was $10,000, which is the maximum amount that the insurance company would pay out for the damages.

These examples illustrate how the face of policy represents the maximum amount of money that an insurance policy will pay out in the event of a claim. It is important for policyholders to understand the face value of their policies so that they can ensure they have adequate coverage for their needs.

face amount insured by the policy | facial challenge

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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