Which term describes a document that outlines the terms and conditions of an insurance policy?

The term that describes a document outlining the terms and conditions of an insurance policy is the policy document. This document serves as the formal agreement between the insurer and the insured, detailing the coverage provided, exclusions, limitations, premiums, and other vital information regarding the insurance contract. It is crucial for both parties to understand this document as it governs their rights and responsibilities under the policy.

In contrast, a claim form is used after a loss occurs, allowing the policyholder to request payment or benefits. An insurance application is a preliminary document filled out by a prospective insured to provide necessary information for underwriting. An endorsement is an amendment or addition to an existing policy that modifies its coverage or terms. Understanding these distinctions helps clarify the unique role of the policy document in the insurance process.