Còn đây là cái phần phân biệt: Policy, certificate, letter
- Insurance Policy:
Formal contract-document issued by an insurance companyto an insured. It (1) puts an indemnity cover into effect, (2) serves as a legal evidence of the insurance agreement, (3) sets out the exact terms on which the indemnity cover has been provided, and (4) states associated information such as the (a) specific risks and perils covered, (b) duration of coverage, (c) amount of premium, (d) mode of premium payment, and (e) deductibles, if any.
- Certificate of insurance:
Document issued by an insurance company, it certifies that an insurance policy has been bought and shows an abstractof the most important provisions of the insurance contract. But it is not a substitute for the actual policy, and is normally a non-negotiable document-it cannot be assigned to a third party, and is unacceptable under the terms of aletter of credit and in making a claim. In life and health insurance a COI is issued to the members of a group insurance plan, evidencing their participation. In marine insurance (where cargo is insured against a floatinginsurance policy) COI serves to assure the consignee that insurance is in effect for the goods in transit and a proper policy will follow. Also called insurance certificate
- Letter of insurance:
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