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Simple English definitions for legal terms

policy limits

Read a random definition: clericale privilegium

A quick definition of policy limits:

Policy limits refer to the maximum amount of coverage that an insurance company will provide for a single claim under an insurance policy. This means that if you have an insurance policy with a certain limit, the insurance company will only pay up to that limit if you make a claim. For example, if your car insurance policy has a limit of $50,000 and you get into an accident that causes $60,000 in damages, your insurance company will only pay up to $50,000 and you will be responsible for the remaining $10,000.

A more thorough explanation:

Definition: Policy limits refer to the maximum amount of coverage that an insurance company will provide on a single claim under an insurance policy. It is also known as liability limit or limit of liability.

Example: Let's say you have an auto insurance policy with a liability limit of $50,000. If you get into an accident and the damages exceed $50,000, you will be responsible for paying the remaining amount out of pocket.

Explanation: This example illustrates how policy limits work in an insurance policy. The insurance company will only cover up to the maximum amount specified in the policy, and any additional costs will have to be paid by the policyholder.

police state | policy loan

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HLS II!! But I am not as ecstatic as I thought I would be. After seeing some II's transition to R's, it has me a bit doubtful of it being promising
@info-man: Congrats on Gtown II!
soap
14:50
Congrats everyone
ImpartialLion
14:52
Congrats!
14:54
if i haven’t gotten a harvard ii invite by now am i done if i applied early nov
GreyCeaselessMammoth
14:54
if u weren't in the r wave, i'm sure there's a reason
ReminiscentZestyFish
14:54
Anything's possible
ReminiscentZestyFish
14:55
Probably won't be in Feb A wave but still chance for March
info man is cookin
ImpartialLion
14:55
@RightPlant: welcome to hls purgatory buddy
hate to see a stat twin catch the WL
14:56
@CynicalCynicalCynical: you're too kind, i'm just letting what happens happen
i want georgetown ii :(
ImpartialLion
14:56
We have a brick wall to bang your head against and a computer that can only search the harvard status checker
michigan state university
ImpartialLion
15:04
@MountainousKnottyGuppy: i knew a kid who chose msu undergrad over UMN or UW-Madison, which were in state for him. Paid full out of state
ImpartialLion
15:04
Never made sense to me
15:06
@info-man: average info man win
I applied 12/10 to 9 schools and haven't heard back from any. Kinda nervous, is this normal?
You're well within a normal time frame, wouldn't be worried at all yet
what's considered normal time frame
depends but generally 6-8 weeks
gotcha
this shit is so stressful
Not counting holidays, schools weren't reviewing/making decisions from around Christmas week to this week
You'll probably hear more in Feb
thanks for the advice
ReminiscentZestyFish
15:10
When Berk RD?
np, good luck friend
thanks and likewise
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